{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\isshlee\Dropbox\PSRM\Manuscript_data\Fin\log_PSRM+Lee+June 2016+Tariffs+Tables 124+App12457.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}15 Jun 2016, 18:44:40

{com}. do "C:\Users\isshlee\Dropbox\PSRM\Manuscript_data\Fin\PSRM+Lee+June 2016+Tariffs+Tables 124+App12457.do"
{txt}
{com}. 
. 
. cd "C:\Users\isshlee\Dropbox\PSRM\Manuscript_data\Fin"
{res}C:\Users\isshlee\Dropbox\PSRM\Manuscript_data\Fin
{txt}
{com}. 
. use "PSRM+Lee+sic87+tariffs+1989-1998+sum.dta", clear
{txt}
{com}. 
. d dy2 dy1 year

              {txt}storage   display    value
variable name   type    format     label      variable label
{hline}
{p 0 48}{res}{bind:dy2            }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Year for DV2: dy2=year+2{p_end}
{p 0 48}{bind:dy1            }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Year for DV1: dy1=year+1{p_end}
{p 0 48}{bind:year           }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Year for IVs: year{p_end}
{txt}
{com}. sum dy2 dy1 year

{txt}    Variable {c |}       Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 56}
{space 9}dy2 {c |}{res}      4477        1994    3.162631       1989       1999
{txt}{space 9}dy1 {c |}{res}      4477        1993    3.162631       1988       1998
{txt}{space 8}year {c |}{res}      4477        1992    3.162631       1987       1997
{txt}
{com}. sum tfc_ tfd_ if dy1==1988

{txt}    Variable {c |}       Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 56}
{space 8}tfc_ {c |}{res}         0
{txt}{space 8}tfd_ {c |}{res}         0
{txt}
{com}. 
. ********************************************************************************
. *Table A1: Summary Statistics
. ********************************************************************************
. sum dy1 year if data1ylag==1

{txt}    Variable {c |}       Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 56}
{space 9}dy1 {c |}{res}      4070      1993.5    2.872634       1989       1998
{txt}{space 8}year {c |}{res}      4070      1992.5    2.872634       1988       1997
{txt}
{com}. sum tfc_ tfd_ BRdisadv BRR indcon geocon size polcon1 grfd1con_ RDcon_ psg50dcon1_ h50con1_ pivotalcon safecon safe4con safe4gcon if data1ylag==1

{txt}    Variable {c |}       Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 56}
{space 8}tfc_ {c |}{res}      3971     3.71912    4.394844          0   100.0795
{txt}{space 8}tfd_ {c |}{res}      3848    5.814285    20.80458          0   1258.892
{txt}{space 4}BRdisadv {c |}{res}      3902    4.527639    15.12537  -61.44417   82.12562
{txt}{space 9}BRR {c |}{res}      3898    3.444676    21.16201          0   974.5304
{txt}{space 6}indcon {c |}{res}      4064    .0693307    .0646628          0      .2999
{txt}{hline 13}{c +}{hline 56}
{space 6}geocon {c |}{res}      4068    4.831805    8.050773  -108.2607   184.6186
{txt}{space 8}size {c |}{res}      4069    3.913369    5.588869   .0068852     50.862
{txt}{space 5}polcon1 {c |}{res}      4069    .0432768    .0521076   .0029392   .7468031
{txt}{space 3}grfd1con_ {c |}{res}      4069    .3662739    .5247156   .0280395    8.19354
{txt}{space 6}RDcon_ {c |}{res}      4069    .2202114    .4704085   .0000768   8.903714
{txt}{hline 13}{c +}{hline 56}
{space 1}psg50dcon1_ {c |}{res}      4069    .3010434    .4167031   .0212545   5.719429
{txt}{space 4}h50con1_ {c |}{res}      4069    .5078578    .7300586   .0005042   13.99995
{txt}{space 2}pivotalcon {c |}{res}      4069    .0153332    .0268573          0   .7145546
{txt}{space 5}safecon {c |}{res}      4069    .0151857    .0316493          0   .6509894
{txt}{space 4}safe4con {c |}{res}      4069    .0130881    .0254028          0   .3693211
{txt}{hline 13}{c +}{hline 56}
{space 3}safe4gcon {c |}{res}      4069    .0103276    .0211852          0   .3731267
{txt}
{com}. 
. xtset sic dy1
{res}{txt}{col 8}panel variable:  {res}sic (strongly balanced)
{txt}{col 9}time variable:  {res}{col 25}dy1, 1988 to 1998
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. ********************************************************************************
. *TABLE 1: Partisan Dominance and Tariffs 
. ********************************************************************************
. *DV: Tariffs on Total Imports
. xtregar tfc_ BRdisadv grfd1con_ geocon size ltfc_, fe

{txt}FE (within) regression with AR(1) disturbances{col 49}Number of obs{col 68}={col 70}{res}     3093
{txt}Group variable: {res}sic{txt}{col 49}Number of groups{col 68}={col 70}{res}      394

{txt}R-sq:  within  = {res}0.0059{col 49}{txt}Obs per group: min{col 68}={col 70}{res}        1
{txt}       between = {res}0.3177{col 64}{txt}avg{col 68}={col 70}{res}      7.9
{txt}       overall = {res}0.2955{col 64}{txt}max{col 68}={col 70}{res}        8

{txt}{col 49}F({res}5{txt},{res}2694{txt}){col 68}={col 70}{res}     3.19
{txt}corr(u_i, Xb){col 16}= {res}0.4774{txt}{col 49}Prob > F{col 68}={col 73}{res}0.0071

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0063148{col 26}{space 2} .0081267{col 37}{space 1}    0.78{col 46}{space 3}0.437{col 54}{space 4}-.0096204{col 67}{space 3}   .02225
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.2727433{col 26}{space 2} .0967628{col 37}{space 1}   -2.82{col 46}{space 3}0.005{col 54}{space 4}  -.46248{col 67}{space 3}-.0830065
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}-.0038427{col 26}{space 2} .0046398{col 37}{space 1}   -0.83{col 46}{space 3}0.408{col 54}{space 4}-.0129407{col 67}{space 3} .0052552
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.050008{col 26}{space 2} .0574968{col 37}{space 1}   -0.87{col 46}{space 3}0.385{col 54}{space 4}-.1627503{col 67}{space 3} .0627343
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .0396173{col 26}{space 2} .0151024{col 37}{space 1}    2.62{col 46}{space 3}0.009{col 54}{space 4} .0100038{col 67}{space 3} .0692308
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 3.163752{col 26}{space 2} .0805137{col 37}{space 1}   39.29{col 46}{space 3}0.000{col 54}{space 4} 3.005877{col 67}{space 3} 3.321627
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      rho_ar {c |} {res} .66656315
     {txt}sigma_u {c |} {res} 3.5273317
     {txt}sigma_e {c |} {res} 1.1521631
     {txt}rho_fov {c |} {res} .90359308{txt}   (fraction of variance because of u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0:     F({res}393{txt},{res}2694{txt}) = {res}    4.33{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}.  estimates store m11
{txt}
{com}. xtregar tfc_ BRdisadv grfd1con_ geocon size ltfc_, re

{txt}RE GLS regression with AR(1) disturbances{col 49}Number of obs{col 68}={col 70}{res}     3487
{txt}Group variable: {res}sic{txt}{col 49}Number of groups{col 68}={col 70}{res}      394

{txt}R-sq:  within  = {res}0.1374{col 49}{txt}Obs per group: min{col 68}={col 70}{res}        2
{txt}       between = {res}0.7299{col 64}{txt}avg{col 68}={col 70}{res}      8.9
{txt}       overall = {res}0.6389{col 64}{txt}max{col 68}={col 70}{res}        9

{txt}{col 49}Wald chi2({res}6{txt}){col 68}={col 70}{res}   571.11
{txt}corr(u_i, Xb){col 20}= {res}0{txt} (assumed){col 49}Prob > chi2{col 68}={col 73}{res}0.0000

{txt}{hline 19} theta {hline 20}
  min      5%       median        95%      max
{res}0.3193   0.4662     0.4662     0.4662   0.4662

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0539932{col 26}{space 2} .0053809{col 37}{space 1}   10.03{col 46}{space 3}0.000{col 54}{space 4} .0434468{col 67}{space 3} .0645396
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.1629216{col 26}{space 2} .0947131{col 37}{space 1}   -1.72{col 46}{space 3}0.085{col 54}{space 4}-.3485557{col 67}{space 3} .0227126
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0065444{col 26}{space 2} .0048342{col 37}{space 1}    1.35{col 46}{space 3}0.176{col 54}{space 4}-.0029304{col 67}{space 3} .0160193
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0351449{col 26}{space 2} .0173191{col 37}{space 1}   -2.03{col 46}{space 3}0.042{col 54}{space 4}-.0690897{col 67}{space 3}-.0012001
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .2205884{col 26}{space 2} .0109536{col 37}{space 1}   20.14{col 46}{space 3}0.000{col 54}{space 4} .1991197{col 67}{space 3}  .242057
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.671761{col 26}{space 2} .1420161{col 37}{space 1}   18.81{col 46}{space 3}0.000{col 54}{space 4} 2.393414{col 67}{space 3} 2.950107
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      rho_ar {c |} {res} .66656315{txt}   (estimated autocorrelation coefficient)
     sigma_u {c |} {res} 1.8013276
     {txt}sigma_e {c |} {res} 1.3669811
     {txt}rho_fov {c |} {res} .63456201{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}.  estimates store m12
{txt}
{com}. xtabond tfc_ BRdisadv grfd1con_ geocon size, lags(2) vce(r)
{res}
{txt}Arellano-Bond dynamic panel-data estimation{col 46}Number of obs{col 68}={res}      2695
{txt}Group variable: {res}sic{txt}{col 46}{txt}Number of groups{col 68}={res}       393
{txt}Time variable: {res}dy1
{txt}{col 46}Obs per group:{col 64}min {col 68}={col 70}{res}        1
{txt}{col 64}avg{col 68}={col 70}{res} 6.857506
{txt}{col 64}max{col 68}={col 70}{res}        7

{txt}Number of instruments =  {res}   40{txt}{col 46}Wald chi2({res}6{txt}){col 68}= {res}   651.18
{txt}{col 46}Prob > chi2{col 68}={col 73}{res}0.0000
{txt}One-step results
{res}{txt}{ralign 78:(Std. Err. adjusted for clustering on sic)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}tfc_ {c |}
{space 9}L1. {c |}{col 14}{res}{space 2} .8880067{col 26}{space 2} .0593758{col 37}{space 1}   14.96{col 46}{space 3}0.000{col 54}{space 4} .7716324{col 67}{space 3} 1.004381
{txt}{space 9}L2. {c |}{col 14}{res}{space 2} .0156477{col 26}{space 2} .0200706{col 37}{space 1}    0.78{col 46}{space 3}0.436{col 54}{space 4}-.0236899{col 67}{space 3} .0549854
{txt}{space 12} {c |}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0349331{col 26}{space 2}  .017123{col 37}{space 1}    2.04{col 46}{space 3}0.041{col 54}{space 4} .0013726{col 67}{space 3} .0684936
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.4399319{col 26}{space 2} .1675095{col 37}{space 1}   -2.63{col 46}{space 3}0.009{col 54}{space 4}-.7682445{col 67}{space 3}-.1116192
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}-.0028479{col 26}{space 2} .0128314{col 37}{space 1}   -0.22{col 46}{space 3}0.824{col 54}{space 4} -.027997{col 67}{space 3} .0223012
{txt}{space 8}size {c |}{col 14}{res}{space 2} .0699879{col 26}{space 2} .0481268{col 37}{space 1}    1.45{col 46}{space 3}0.146{col 54}{space 4}-.0243388{col 67}{space 3} .1643147
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1348103{col 26}{space 2} .2656192{col 37}{space 1}   -0.51{col 46}{space 3}0.612{col 54}{space 4}-.6554144{col 67}{space 3} .3857939
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{txt}Instruments for differenced equation
{p 8 18 78}{txt}GMM-type: {res}L(2/.).tfc_{p_end}
{p 8 18 78}{txt}Standard: {res}D.BRdisadv D.grfd1con_ D.geocon D.size{p_end}
{txt}Instruments for level equation
{p 8 18 78}{txt}Standard: {res}_cons{p_end}
{txt}
{com}.  estimates store m13
{txt}
{com}. xtgls tfc_ BRdisadv grfd1con_ indcon geocon size ltfc_ polcon1, panels(h) corr(psar1) force

{txt}Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      394{txt}{col 49}Number of obs{col 68}= {res}     3483
{txt}Estimated autocorrelations{col 28}= {res}      394{txt}{col 49}Number of groups{col 68}= {res}      394
{txt}Estimated coefficients{col 28}= {res}        8{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.840102
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}7{txt}){col 68}= {res} 10764.54
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0106892{col 26}{space 2}  .001395{col 37}{space 1}    7.66{col 46}{space 3}0.000{col 54}{space 4}  .007955{col 67}{space 3} .0134234
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.0075663{col 26}{space 2} .0550399{col 37}{space 1}   -0.14{col 46}{space 3}0.891{col 54}{space 4}-.1154426{col 67}{space 3}   .10031
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-.5541413{col 26}{space 2} .2536103{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-1.051208{col 67}{space 3}-.0570742
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0065783{col 26}{space 2}  .001849{col 37}{space 1}    3.56{col 46}{space 3}0.000{col 54}{space 4} .0029544{col 67}{space 3} .0102022
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0041255{col 26}{space 2} .0016002{col 37}{space 1}   -2.58{col 46}{space 3}0.010{col 54}{space 4}-.0072619{col 67}{space 3}-.0009892
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .8638911{col 26}{space 2} .0104829{col 37}{space 1}   82.41{col 46}{space 3}0.000{col 54}{space 4} .8433451{col 67}{space 3} .8844371
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} .4393877{col 26}{space 2} .6175678{col 37}{space 1}    0.71{col 46}{space 3}0.477{col 54}{space 4} -.771023{col 67}{space 3} 1.649798
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2672214{col 26}{space 2} .0468914{col 37}{space 1}    5.70{col 46}{space 3}0.000{col 54}{space 4} .1753159{col 67}{space 3} .3591269
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m14
{txt}
{com}. xtpcse tfc_ BRdisadv grfd1con_ indcon geocon size ltfc_ polcon1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6281
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}7{txt}){col 68}= {res}   690.65
{txt}Estimated coefficients{col 28}= {res}        8{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0430143{col 26}{space 2} .0081059{col 37}{space 1}    5.31{col 46}{space 3}0.000{col 54}{space 4}  .027127{col 67}{space 3} .0589016
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} -.383773{col 26}{space 2} .1948742{col 37}{space 1}   -1.97{col 46}{space 3}0.049{col 54}{space 4}-.7657195{col 67}{space 3}-.0018266
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.030022{col 26}{space 2} .7089229{col 37}{space 1}   -4.27{col 46}{space 3}0.000{col 54}{space 4}-4.419485{col 67}{space 3}-1.640559
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0244912{col 26}{space 2} .0075694{col 37}{space 1}    3.24{col 46}{space 3}0.001{col 54}{space 4} .0096555{col 67}{space 3}  .039327
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0281875{col 26}{space 2} .0086616{col 37}{space 1}   -3.25{col 46}{space 3}0.001{col 54}{space 4}-.0451639{col 67}{space 3} -.011211
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4710414{col 26}{space 2} .0776307{col 37}{space 1}    6.07{col 46}{space 3}0.000{col 54}{space 4}  .318888{col 67}{space 3} .6231947
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 5.643725{col 26}{space 2} 2.605556{col 37}{space 1}    2.17{col 46}{space 3}0.030{col 54}{space 4} .5369302{col 67}{space 3} 10.75052
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.856097{col 26}{space 2} .3662577{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} 1.138245{col 67}{space 3} 2.573949
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8562721{txt} {res} .8409452{txt} {res}-.0935183{txt} {res} .4987123{txt} {res}        1{txt} ... {res} .4882785
{txt}{hline 78}

{com}.  estimates store m15
{txt}
{com}. 
. *DV: Tariffs on Dutiable Imports
. xtregar tfd_ BRdisadv grfd1con_ geocon size ltfd_, fe

{txt}FE (within) regression with AR(1) disturbances{col 49}Number of obs{col 68}={col 70}{res}     2997
{txt}Group variable: {res}sic{txt}{col 49}Number of groups{col 68}={col 70}{res}      385

{txt}R-sq:  within  = {res}0.0053{col 49}{txt}Obs per group: min{col 68}={col 70}{res}        1
{txt}       between = {res}0.0441{col 64}{txt}avg{col 68}={col 70}{res}      7.8
{txt}       overall = {res}0.0266{col 64}{txt}max{col 68}={col 70}{res}        8

{txt}{col 49}F({res}5{txt},{res}2607{txt}){col 68}={col 70}{res}     2.76
{txt}corr(u_i, Xb){col 16}= {res}-0.2962{txt}{col 49}Prob > F{col 68}={col 73}{res}0.0172

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}-.0164159{col 26}{space 2} .0141454{col 37}{space 1}   -1.16{col 46}{space 3}0.246{col 54}{space 4}-.0441533{col 67}{space 3} .0113215
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} -.488155{col 26}{space 2} .1651822{col 37}{space 1}   -2.96{col 46}{space 3}0.003{col 54}{space 4}-.8120566{col 67}{space 3}-.1642534
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}-.0159524{col 26}{space 2} .0078862{col 37}{space 1}   -2.02{col 46}{space 3}0.043{col 54}{space 4}-.0314163{col 67}{space 3}-.0004885
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0669987{col 26}{space 2} .0968856{col 37}{space 1}   -0.69{col 46}{space 3}0.489{col 54}{space 4}-.2569793{col 67}{space 3} .1229818
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2}  .001466{col 26}{space 2} .0025315{col 37}{space 1}    0.58{col 46}{space 3}0.563{col 54}{space 4} -.003498{col 67}{space 3} .0064299
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 5.702155{col 26}{space 2} .1369115{col 37}{space 1}   41.65{col 46}{space 3}0.000{col 54}{space 4} 5.433689{col 67}{space 3} 5.970622
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      rho_ar {c |} {res} .65629874
     {txt}sigma_u {c |} {res} 4.6622714
     {txt}sigma_e {c |} {res} 1.9452998
     {txt}rho_fov {c |} {res} .85172226{txt}   (fraction of variance because of u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0:     F({res}384{txt},{res}2607{txt}) = {res}    5.05{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}.  estimates store m16
{txt}
{com}. xtregar tfd_ BRdisadv grfd1con_ geocon size ltfd_, re

{txt}RE GLS regression with AR(1) disturbances{col 49}Number of obs{col 68}={col 70}{res}     3384
{txt}Group variable: {res}sic{txt}{col 49}Number of groups{col 68}={col 70}{res}      387

{txt}R-sq:  within  = {res}0.0010{col 49}{txt}Obs per group: min{col 68}={col 70}{res}        1
{txt}       between = {res}0.1683{col 64}{txt}avg{col 68}={col 70}{res}      8.7
{txt}       overall = {res}0.1358{col 64}{txt}max{col 68}={col 70}{res}        9

{txt}{col 49}Wald chi2({res}6{txt}){col 68}={col 70}{res}    35.37
{txt}corr(u_i, Xb){col 20}= {res}0{txt} (assumed){col 49}Prob > chi2{col 68}={col 73}{res}0.0000

{txt}{hline 19} theta {hline 20}
  min      5%       median        95%      max
{res}0.4226   0.6022     0.6022     0.6022   0.6022

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0444768{col 26}{space 2} .0095883{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4} .0256841{col 67}{space 3} .0632694
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.3095841{col 26}{space 2} .1501067{col 37}{space 1}   -2.06{col 46}{space 3}0.039{col 54}{space 4}-.6037877{col 67}{space 3}-.0153804
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}-.0057416{col 26}{space 2} .0075428{col 37}{space 1}   -0.76{col 46}{space 3}0.447{col 54}{space 4}-.0205253{col 67}{space 3}  .009042
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.044942{col 26}{space 2} .0330346{col 37}{space 1}   -1.36{col 46}{space 3}0.174{col 54}{space 4}-.1096887{col 67}{space 3} .0198047
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0043398{col 26}{space 2} .0016473{col 37}{space 1}    2.63{col 46}{space 3}0.008{col 54}{space 4} .0011112{col 67}{space 3} .0075685
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 5.546164{col 26}{space 2} .2619064{col 37}{space 1}   21.18{col 46}{space 3}0.000{col 54}{space 4} 5.032837{col 67}{space 3} 6.059491
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      rho_ar {c |} {res} .65629874{txt}   (estimated autocorrelation coefficient)
     sigma_u {c |} {res} 3.7659906
     {txt}sigma_e {c |} {res} 2.0092243
     {txt}rho_fov {c |} {res} .77842722{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}.  estimates store m17
{txt}
{com}. xtabond tfd_ BRdisadv grfd1con_ geocon size, lags(2) vce(r)
{res}
{txt}Arellano-Bond dynamic panel-data estimation{col 46}Number of obs{col 68}={res}      2605
{txt}Group variable: {res}sic{txt}{col 46}{txt}Number of groups{col 68}={res}       382
{txt}Time variable: {res}dy1
{txt}{col 46}Obs per group:{col 64}min {col 68}={col 70}{res}        1
{txt}{col 64}avg{col 68}={col 70}{res} 6.819372
{txt}{col 64}max{col 68}={col 70}{res}        7

{txt}Number of instruments =  {res}   40{txt}{col 46}Wald chi2({res}6{txt}){col 68}= {res}   274.92
{txt}{col 46}Prob > chi2{col 68}={col 73}{res}0.0000
{txt}One-step results
{res}{txt}{ralign 78:(Std. Err. adjusted for clustering on sic)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}tfd_ {c |}
{space 9}L1. {c |}{col 14}{res}{space 2} .6469207{col 26}{space 2} .1029828{col 37}{space 1}    6.28{col 46}{space 3}0.000{col 54}{space 4} .4450782{col 67}{space 3} .8487632
{txt}{space 9}L2. {c |}{col 14}{res}{space 2}-.0003277{col 26}{space 2} .0004715{col 37}{space 1}   -0.69{col 46}{space 3}0.487{col 54}{space 4}-.0012518{col 67}{space 3} .0005964
{txt}{space 12} {c |}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}-.0089081{col 26}{space 2} .0215864{col 37}{space 1}   -0.41{col 46}{space 3}0.680{col 54}{space 4}-.0512167{col 67}{space 3} .0334006
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.6377329{col 26}{space 2} .2005852{col 37}{space 1}   -3.18{col 46}{space 3}0.001{col 54}{space 4}-1.030873{col 67}{space 3}-.2445931
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} -.030452{col 26}{space 2} .0127993{col 37}{space 1}   -2.38{col 46}{space 3}0.017{col 54}{space 4}-.0555382{col 67}{space 3}-.0053658
{txt}{space 8}size {c |}{col 14}{res}{space 2} .0439577{col 26}{space 2} .0513429{col 37}{space 1}    0.86{col 46}{space 3}0.392{col 54}{space 4}-.0566726{col 67}{space 3} .1445879
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.057747{col 26}{space 2} .7922662{col 37}{space 1}    2.60{col 46}{space 3}0.009{col 54}{space 4} .5049343{col 67}{space 3} 3.610561
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{txt}Instruments for differenced equation
{p 8 18 78}{txt}GMM-type: {res}L(2/.).tfd_{p_end}
{p 8 18 78}{txt}Standard: {res}D.BRdisadv D.grfd1con_ D.geocon D.size{p_end}
{txt}Instruments for level equation
{p 8 18 78}{txt}Standard: {res}_cons{p_end}
{txt}
{com}.  estimates store m18
{txt}
{com}. xtgls tfd_ BRdisadv grfd1con_ indcon geocon size ltfd_ polcon1, panels(h) corr(psar1) force
{txt}(note: {res}2{txt} observations dropped because only 1 obs in group)

Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      385{txt}{col 49}Number of obs{col 68}= {res}     3378
{txt}Estimated autocorrelations{col 28}= {res}      385{txt}{col 49}Number of groups{col 68}= {res}      385
{txt}Estimated coefficients{col 28}= {res}        8{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.774026
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}7{txt}){col 68}= {res}   461.76
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0411774{col 26}{space 2} .0022881{col 37}{space 1}   18.00{col 46}{space 3}0.000{col 54}{space 4} .0366929{col 67}{space 3}  .045662
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.1484981{col 26}{space 2} .0585757{col 37}{space 1}   -2.54{col 46}{space 3}0.011{col 54}{space 4}-.2633044{col 67}{space 3}-.0336919
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.647798{col 26}{space 2} .4355666{col 37}{space 1}   -8.37{col 46}{space 3}0.000{col 54}{space 4}-4.501493{col 67}{space 3}-2.794103
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0059072{col 26}{space 2} .0030631{col 37}{space 1}    1.93{col 46}{space 3}0.054{col 54}{space 4}-.0000964{col 67}{space 3} .0119108
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0379373{col 26}{space 2} .0074356{col 37}{space 1}   -5.10{col 46}{space 3}0.000{col 54}{space 4}-.0525107{col 67}{space 3}-.0233638
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0095259{col 26}{space 2}  .001865{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .0058706{col 67}{space 3} .0131813
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 1.798103{col 26}{space 2} .5486511{col 37}{space 1}    3.28{col 46}{space 3}0.001{col 54}{space 4} .7227668{col 67}{space 3}  2.87344
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 5.362758{col 26}{space 2} .0625476{col 37}{space 1}   85.74{col 46}{space 3}0.000{col 54}{space 4} 5.240167{col 67}{space 3} 5.485349
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m19
{txt}
{com}. xtpcse tfd_ BRdisadv grfd1con_ indcon geocon size ltfd_ polcon1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3057
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}7{txt}){col 68}= {res}    19.54
{txt}Estimated coefficients{col 28}= {res}        8{col 49}{txt}Prob > chi2{col 68}= {res}   0.0066

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0549479{col 26}{space 2} .0173625{col 37}{space 1}    3.16{col 46}{space 3}0.002{col 54}{space 4}  .020918{col 67}{space 3} .0889778
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} -.327347{col 26}{space 2} .3168343{col 37}{space 1}   -1.03{col 46}{space 3}0.302{col 54}{space 4}-.9483308{col 67}{space 3} .2936367
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-4.395959{col 26}{space 2} 1.795294{col 37}{space 1}   -2.45{col 46}{space 3}0.014{col 54}{space 4}-7.914672{col 67}{space 3}-.8772471
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0101323{col 26}{space 2} .0116248{col 37}{space 1}    0.87{col 46}{space 3}0.383{col 54}{space 4}-.0126518{col 67}{space 3} .0329165
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0131488{col 26}{space 2} .0342736{col 37}{space 1}   -0.38{col 46}{space 3}0.701{col 54}{space 4}-.0803238{col 67}{space 3} .0540262
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0048719{col 26}{space 2} .0020142{col 37}{space 1}    2.42{col 46}{space 3}0.016{col 54}{space 4} .0009241{col 67}{space 3} .0088197
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 5.226536{col 26}{space 2} 3.281705{col 37}{space 1}    1.59{col 46}{space 3}0.111{col 54}{space 4}-1.205487{col 67}{space 3} 11.65856
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 5.552869{col 26}{space 2} .4966986{col 37}{space 1}   11.18{col 46}{space 3}0.000{col 54}{space 4} 4.579357{col 67}{space 3}  6.52638
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res}  .925376{txt} {res} .9760736{txt} {res} .4369433{txt} {res}        1{txt} {res}        1{txt} ... {res} .6657214
{txt}{hline 78}

{com}.  estimates store m20
{txt}
{com}. 
. *TABLE 1
. estout m11 m12 m13 m14 m15, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2_o r2_w r2_b r2 N N_g vce, fmt(3 3 3 3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 92}
{txt}                      m11             m12             m13             m14             m15   
{txt}                     b/se            b/se            b/se            b/se            b/se   
{txt}{hline 92}
{txt}BRdisadv    {res}        0.006           0.054***        0.035**         0.011***        0.043***{txt}
            {res}      (0.008)         (0.005)         (0.017)         (0.001)         (0.008)   {txt}
{txt}grfd1con_   {res}       -0.273***       -0.163*         -0.440***       -0.008          -0.384** {txt}
            {res}      (0.097)         (0.095)         (0.168)         (0.055)         (0.195)   {txt}
{txt}geocon      {res}       -0.004           0.007          -0.003           0.007***        0.024***{txt}
            {res}      (0.005)         (0.005)         (0.013)         (0.002)         (0.008)   {txt}
{txt}size        {res}       -0.050          -0.035**         0.070          -0.004***       -0.028***{txt}
            {res}      (0.057)         (0.017)         (0.048)         (0.002)         (0.009)   {txt}
{txt}ltfc_       {res}        0.040***        0.221***                        0.864***        0.471***{txt}
            {res}      (0.015)         (0.011)                         (0.010)         (0.078)   {txt}
{txt}L.tfc_      {res}                                        0.888***                                {txt}
            {res}                                      (0.059)                                   {txt}
{txt}L2.tfc_     {res}                                        0.016                                   {txt}
            {res}                                      (0.020)                                   {txt}
{txt}indcon      {res}                                                       -0.554**        -3.030***{txt}
            {res}                                                      (0.254)         (0.709)   {txt}
{txt}polcon1     {res}                                                        0.439           5.644** {txt}
            {res}                                                      (0.618)         (2.606)   {txt}
{txt}Constant    {res}        3.164***        2.672***       -0.135           0.267***        1.856***{txt}
            {res}      (0.081)         (0.142)         (0.266)         (0.047)         (0.366)   {txt}
{txt}{hline 92}
{txt}r2_o        {res}        0.295           0.639                                                   {txt}
{txt}r2_w        {res}        0.006           0.137                                                   {txt}
{txt}r2_b        {res}        0.318           0.730                                                   {txt}
{txt}r2          {res}                                                                        0.628   {txt}
{txt}N           {res}         3093            3487            2695            3483            3483   {txt}
{txt}N_g         {res}          394             394             393             394             394   {txt}
{txt}vce         {res}                                       robust                                   {txt}
{txt}{hline 92}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. estout m16 m17 m18 m19 m20, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2_o r2_w r2_b r2 N N_g vce, fmt(3 3 3 3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 92}
{txt}                      m16             m17             m18             m19             m20   
{txt}                     b/se            b/se            b/se            b/se            b/se   
{txt}{hline 92}
{txt}BRdisadv    {res}       -0.016           0.044***       -0.009           0.041***        0.055***{txt}
            {res}      (0.014)         (0.010)         (0.022)         (0.002)         (0.017)   {txt}
{txt}grfd1con_   {res}       -0.488***       -0.310**        -0.638***       -0.148**        -0.327   {txt}
            {res}      (0.165)         (0.150)         (0.201)         (0.059)         (0.317)   {txt}
{txt}geocon      {res}       -0.016**        -0.006          -0.030**         0.006*          0.010   {txt}
            {res}      (0.008)         (0.008)         (0.013)         (0.003)         (0.012)   {txt}
{txt}size        {res}       -0.067          -0.045           0.044          -0.038***       -0.013   {txt}
            {res}      (0.097)         (0.033)         (0.051)         (0.007)         (0.034)   {txt}
{txt}ltfd_       {res}        0.001           0.004***                        0.010***        0.005** {txt}
            {res}      (0.003)         (0.002)                         (0.002)         (0.002)   {txt}
{txt}L.tfd_      {res}                                        0.647***                                {txt}
            {res}                                      (0.103)                                   {txt}
{txt}L2.tfd_     {res}                                       -0.000                                   {txt}
            {res}                                      (0.000)                                   {txt}
{txt}indcon      {res}                                                       -3.648***       -4.396** {txt}
            {res}                                                      (0.436)         (1.795)   {txt}
{txt}polcon1     {res}                                                        1.798***        5.227   {txt}
            {res}                                                      (0.549)         (3.282)   {txt}
{txt}Constant    {res}        5.702***        5.546***        2.058***        5.363***        5.553***{txt}
            {res}      (0.137)         (0.262)         (0.792)         (0.063)         (0.497)   {txt}
{txt}{hline 92}
{txt}r2_o        {res}        0.027           0.136                                                   {txt}
{txt}r2_w        {res}        0.005           0.001                                                   {txt}
{txt}r2_b        {res}        0.044           0.168                                                   {txt}
{txt}r2          {res}                                                                        0.306   {txt}
{txt}N           {res}         2997            3384            2605            3378            3380   {txt}
{txt}N_g         {res}          385             387             382             385             387   {txt}
{txt}vce         {res}                                       robust                                   {txt}
{txt}{hline 92}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ********************************************************************************
. /*TABLE 2: Partisan Dominance and the Marginal Effects of Comparative 
>            Disadvantage on Tariffs*/
. ********************************************************************************
. *Interaction Terms
. gen grfd1BR_=grfd1con_*BRdisadv
{txt}(224 missing values generated)

{com}. 
. *DV: Tariffs on Total Imports
. xtgls tfc_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfc_ i.dy1, panels(h) corr(psar1) force

{txt}Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      394{txt}{col 49}Number of obs{col 68}= {res}     3483
{txt}Estimated autocorrelations{col 28}= {res}      394{txt}{col 49}Number of groups{col 68}= {res}      394
{txt}Estimated coefficients{col 28}= {res}       16{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.840102
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}15{txt}){col 68}= {res} 16347.47
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .015764{col 26}{space 2} .0016545{col 37}{space 1}    9.53{col 46}{space 3}0.000{col 54}{space 4} .0125213{col 67}{space 3} .0190067
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .0337266{col 26}{space 2} .0269123{col 37}{space 1}    1.25{col 46}{space 3}0.210{col 54}{space 4}-.0190206{col 67}{space 3} .0864739
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0059528{col 26}{space 2} .0019599{col 37}{space 1}   -3.04{col 46}{space 3}0.002{col 54}{space 4}-.0097942{col 67}{space 3}-.0021114
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0077701{col 26}{space 2} .0019278{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4} .0039917{col 67}{space 3} .0115486
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-.7050056{col 26}{space 2} .2049107{col 37}{space 1}   -3.44{col 46}{space 3}0.001{col 54}{space 4}-1.106623{col 67}{space 3} -.303388
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0061694{col 26}{space 2} .0020409{col 37}{space 1}   -3.02{col 46}{space 3}0.003{col 54}{space 4}-.0101694{col 67}{space 3}-.0021693
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .8432915{col 26}{space 2} .0106497{col 37}{space 1}   79.18{col 46}{space 3}0.000{col 54}{space 4} .8224185{col 67}{space 3} .8641645
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.0091287{col 26}{space 2} .0168351{col 37}{space 1}   -0.54{col 46}{space 3}0.588{col 54}{space 4}-.0421249{col 67}{space 3} .0238675
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.0920035{col 26}{space 2} .0220176{col 37}{space 1}   -4.18{col 46}{space 3}0.000{col 54}{space 4}-.1351572{col 67}{space 3}-.0488498
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.0874459{col 26}{space 2} .0249178{col 37}{space 1}   -3.51{col 46}{space 3}0.000{col 54}{space 4}-.1362838{col 67}{space 3}-.0386079
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.0907316{col 26}{space 2} .0268179{col 37}{space 1}   -3.38{col 46}{space 3}0.001{col 54}{space 4}-.1432937{col 67}{space 3}-.0381695
{txt}{space 7}1995  {c |}{col 14}{res}{space 2} -.375269{col 26}{space 2} .0283482{col 37}{space 1}  -13.24{col 46}{space 3}0.000{col 54}{space 4}-.4308305{col 67}{space 3}-.3197076
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.3421123{col 26}{space 2} .0303787{col 37}{space 1}  -11.26{col 46}{space 3}0.000{col 54}{space 4}-.4016534{col 67}{space 3}-.2825712
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.3768904{col 26}{space 2} .0325832{col 37}{space 1}  -11.57{col 46}{space 3}0.000{col 54}{space 4}-.4407523{col 67}{space 3}-.3130285
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.4169553{col 26}{space 2} .0353421{col 37}{space 1}  -11.80{col 46}{space 3}0.000{col 54}{space 4}-.4862245{col 67}{space 3}-.3476861
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .5073978{col 26}{space 2}   .05248{col 37}{space 1}    9.67{col 46}{space 3}0.000{col 54}{space 4} .4045388{col 67}{space 3} .6102568
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m21
{txt}
{com}. xtgls tfc_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfc_ polcon1 i.dy1, panels(h) corr(psar1) force

{txt}Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      394{txt}{col 49}Number of obs{col 68}= {res}     3483
{txt}Estimated autocorrelations{col 28}= {res}      394{txt}{col 49}Number of groups{col 68}= {res}      394
{txt}Estimated coefficients{col 28}= {res}       17{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.840102
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}16{txt}){col 68}= {res} 15740.74
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0157609{col 26}{space 2} .0016703{col 37}{space 1}    9.44{col 46}{space 3}0.000{col 54}{space 4} .0124872{col 67}{space 3} .0190345
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .0202993{col 26}{space 2} .0509284{col 37}{space 1}    0.40{col 46}{space 3}0.690{col 54}{space 4}-.0795186{col 67}{space 3} .1201172
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0055213{col 26}{space 2} .0019716{col 37}{space 1}   -2.80{col 46}{space 3}0.005{col 54}{space 4}-.0093855{col 67}{space 3}-.0016571
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0081779{col 26}{space 2} .0019545{col 37}{space 1}    4.18{col 46}{space 3}0.000{col 54}{space 4} .0043471{col 67}{space 3} .0120086
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-.7769626{col 26}{space 2}  .221393{col 37}{space 1}   -3.51{col 46}{space 3}0.000{col 54}{space 4}-1.210885{col 67}{space 3}-.3430404
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0059618{col 26}{space 2} .0020232{col 37}{space 1}   -2.95{col 46}{space 3}0.003{col 54}{space 4}-.0099272{col 67}{space 3}-.0019965
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2}  .841729{col 26}{space 2} .0107178{col 37}{space 1}   78.54{col 46}{space 3}0.000{col 54}{space 4} .8207225{col 67}{space 3} .8627355
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} .2687177{col 26}{space 2} .5604268{col 37}{space 1}    0.48{col 46}{space 3}0.632{col 54}{space 4}-.8296987{col 67}{space 3} 1.367134
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.0082795{col 26}{space 2} .0168762{col 37}{space 1}   -0.49{col 46}{space 3}0.624{col 54}{space 4}-.0413563{col 67}{space 3} .0247972
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.0915512{col 26}{space 2} .0220991{col 37}{space 1}   -4.14{col 46}{space 3}0.000{col 54}{space 4}-.1348647{col 67}{space 3}-.0482376
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.0878247{col 26}{space 2} .0250195{col 37}{space 1}   -3.51{col 46}{space 3}0.000{col 54}{space 4}-.1368621{col 67}{space 3}-.0387873
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.0902019{col 26}{space 2} .0269492{col 37}{space 1}   -3.35{col 46}{space 3}0.001{col 54}{space 4}-.1430214{col 67}{space 3}-.0373825
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.3746359{col 26}{space 2} .0285026{col 37}{space 1}  -13.14{col 46}{space 3}0.000{col 54}{space 4}   -.4305{col 67}{space 3}-.3187717
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.3401574{col 26}{space 2} .0305921{col 37}{space 1}  -11.12{col 46}{space 3}0.000{col 54}{space 4}-.4001169{col 67}{space 3}-.2801979
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.3740279{col 26}{space 2} .0328425{col 37}{space 1}  -11.39{col 46}{space 3}0.000{col 54}{space 4}-.4383981{col 67}{space 3}-.3096578
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.4143914{col 26}{space 2} .0356229{col 37}{space 1}  -11.63{col 46}{space 3}0.000{col 54}{space 4}-.4842111{col 67}{space 3}-.3445717
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .5056552{col 26}{space 2} .0534191{col 37}{space 1}    9.47{col 46}{space 3}0.000{col 54}{space 4} .4009556{col 67}{space 3} .6103548
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m22
{txt}
{com}. xtpcse tfc_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6399
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2669.65
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0558077{col 26}{space 2} .0091574{col 37}{space 1}    6.09{col 46}{space 3}0.000{col 54}{space 4} .0378596{col 67}{space 3} .0737558
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.0054921{col 26}{space 2} .0820744{col 37}{space 1}   -0.07{col 46}{space 3}0.947{col 54}{space 4}-.1663549{col 67}{space 3} .1553707
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2} -.017765{col 26}{space 2} .0059683{col 37}{space 1}   -2.98{col 46}{space 3}0.003{col 54}{space 4}-.0294626{col 67}{space 3}-.0060674
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0283183{col 26}{space 2} .0073726{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .0138682{col 67}{space 3} .0427684
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.143791{col 26}{space 2} .5179944{col 37}{space 1}   -4.14{col 46}{space 3}0.000{col 54}{space 4}-3.159042{col 67}{space 3}-1.128541
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0346302{col 26}{space 2} .0086629{col 37}{space 1}   -4.00{col 46}{space 3}0.000{col 54}{space 4}-.0516091{col 67}{space 3}-.0176514
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4488327{col 26}{space 2} .0803228{col 37}{space 1}    5.59{col 46}{space 3}0.000{col 54}{space 4} .2914029{col 67}{space 3} .6062625
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}  .024035{col 26}{space 2} .0379082{col 37}{space 1}    0.63{col 46}{space 3}0.526{col 54}{space 4}-.0502637{col 67}{space 3} .0983337
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1281895{col 26}{space 2} .0572894{col 37}{space 1}   -2.24{col 46}{space 3}0.025{col 54}{space 4}-.2404747{col 67}{space 3}-.0159044
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2068585{col 26}{space 2}  .083308{col 37}{space 1}   -2.48{col 46}{space 3}0.013{col 54}{space 4}-.3701391{col 67}{space 3}-.0435778
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3678644{col 26}{space 2} .1057592{col 37}{space 1}   -3.48{col 46}{space 3}0.001{col 54}{space 4}-.5751486{col 67}{space 3}-.1605803
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8151707{col 26}{space 2} .1285765{col 37}{space 1}   -6.34{col 46}{space 3}0.000{col 54}{space 4}-1.067176{col 67}{space 3}-.5631655
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9223044{col 26}{space 2} .1694871{col 37}{space 1}   -5.44{col 46}{space 3}0.000{col 54}{space 4}-1.254493{col 67}{space 3}-.5901159
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.036077{col 26}{space 2} .1963333{col 37}{space 1}   -5.28{col 46}{space 3}0.000{col 54}{space 4}-1.420883{col 67}{space 3}-.6512709
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.027327{col 26}{space 2}  .215055{col 37}{space 1}   -4.78{col 46}{space 3}0.000{col 54}{space 4}-1.448827{col 67}{space 3}-.6058273
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  2.38298{col 26}{space 2} .4250552{col 37}{space 1}    5.61{col 46}{space 3}0.000{col 54}{space 4} 1.549887{col 67}{space 3} 3.216073
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7113797{txt} {res} .7469216{txt} {res}-.1471711{txt} {res} .7367761{txt} {res}        1{txt} ... {res} .6369221
{txt}{hline 78}

{com}.  estimates store m23
{txt}
{com}. xtpcse tfc_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfc_ polcon1 i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6376
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}16{txt}){col 68}= {res}  2862.36
{txt}Estimated coefficients{col 28}= {res}       17{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0552876{col 26}{space 2}  .009069{col 37}{space 1}    6.10{col 46}{space 3}0.000{col 54}{space 4} .0375127{col 67}{space 3} .0730625
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}-.2127762{col 26}{space 2} .1397432{col 37}{space 1}   -1.52{col 46}{space 3}0.128{col 54}{space 4} -.486668{col 67}{space 3} .0611155
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0159043{col 26}{space 2} .0060249{col 37}{space 1}   -2.64{col 46}{space 3}0.008{col 54}{space 4} -.027713{col 67}{space 3}-.0040957
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0275221{col 26}{space 2} .0071394{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .0135291{col 67}{space 3} .0415151
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.563871{col 26}{space 2} .6047008{col 37}{space 1}   -4.24{col 46}{space 3}0.000{col 54}{space 4}-3.749063{col 67}{space 3}-1.378679
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0323704{col 26}{space 2} .0081354{col 37}{space 1}   -3.98{col 46}{space 3}0.000{col 54}{space 4}-.0483154{col 67}{space 3}-.0164254
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4464825{col 26}{space 2} .0801025{col 37}{space 1}    5.57{col 46}{space 3}0.000{col 54}{space 4} .2894844{col 67}{space 3} .6034806
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 2.864832{col 26}{space 2} 1.824279{col 37}{space 1}    1.57{col 46}{space 3}0.116{col 54}{space 4}-.7106887{col 67}{space 3} 6.440353
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0244497{col 26}{space 2} .0396377{col 37}{space 1}    0.62{col 46}{space 3}0.537{col 54}{space 4}-.0532387{col 67}{space 3} .1021382
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1318165{col 26}{space 2}  .058803{col 37}{space 1}   -2.24{col 46}{space 3}0.025{col 54}{space 4}-.2470682{col 67}{space 3}-.0165648
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2030686{col 26}{space 2} .0854308{col 37}{space 1}   -2.38{col 46}{space 3}0.017{col 54}{space 4}-.3705098{col 67}{space 3}-.0356275
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3693795{col 26}{space 2} .1079332{col 37}{space 1}   -3.42{col 46}{space 3}0.001{col 54}{space 4}-.5809246{col 67}{space 3}-.1578344
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8199843{col 26}{space 2} .1306224{col 37}{space 1}   -6.28{col 46}{space 3}0.000{col 54}{space 4}-1.075999{col 67}{space 3}-.5639692
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9291039{col 26}{space 2} .1714762{col 37}{space 1}   -5.42{col 46}{space 3}0.000{col 54}{space 4}-1.265191{col 67}{space 3}-.5930167
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.039984{col 26}{space 2} .1984328{col 37}{space 1}   -5.24{col 46}{space 3}0.000{col 54}{space 4}-1.428905{col 67}{space 3}-.6510625
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.031227{col 26}{space 2} .2171278{col 37}{space 1}   -4.75{col 46}{space 3}0.000{col 54}{space 4}-1.456789{col 67}{space 3} -.605664
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.365222{col 26}{space 2} .4235765{col 37}{space 1}    5.58{col 46}{space 3}0.000{col 54}{space 4} 1.535027{col 67}{space 3} 3.195417
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7075263{txt} {res} .7458394{txt} {res}-.1523775{txt} {res} .7692663{txt} {res}        1{txt} ... {res} .6370875
{txt}{hline 78}

{com}.  estimates store m24
{txt}
{com}. 
.  *DV: Tariffs on Dutiable Imports
. xtgls tfd_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfd_ i.dy1, panels(h) corr(psar1) force
{txt}(note: {res}2{txt} observations dropped because only 1 obs in group)

Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      385{txt}{col 49}Number of obs{col 68}= {res}     3378
{txt}Estimated autocorrelations{col 28}= {res}      385{txt}{col 49}Number of groups{col 68}= {res}      385
{txt}Estimated coefficients{col 28}= {res}       16{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.774026
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}15{txt}){col 68}= {res}  1856.31
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .071782{col 26}{space 2} .0030795{col 37}{space 1}   23.31{col 46}{space 3}0.000{col 54}{space 4} .0657463{col 67}{space 3} .0778178
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .0832527{col 26}{space 2} .0527398{col 37}{space 1}    1.58{col 46}{space 3}0.114{col 54}{space 4}-.0201155{col 67}{space 3} .1866208
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0157763{col 26}{space 2}  .003273{col 37}{space 1}   -4.82{col 46}{space 3}0.000{col 54}{space 4}-.0221913{col 67}{space 3}-.0093614
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}  .012075{col 26}{space 2} .0034182{col 37}{space 1}    3.53{col 46}{space 3}0.000{col 54}{space 4} .0053754{col 67}{space 3} .0187746
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.634574{col 26}{space 2} .3871625{col 37}{space 1}   -6.80{col 46}{space 3}0.000{col 54}{space 4}-3.393399{col 67}{space 3} -1.87575
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0456593{col 26}{space 2} .0060692{col 37}{space 1}   -7.52{col 46}{space 3}0.000{col 54}{space 4}-.0575548{col 67}{space 3}-.0337639
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0071253{col 26}{space 2} .0016303{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .0039299{col 67}{space 3} .0103207
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0073406{col 26}{space 2} .0219392{col 37}{space 1}    0.33{col 46}{space 3}0.738{col 54}{space 4}-.0356593{col 67}{space 3} .0503406
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} .0054649{col 26}{space 2} .0305806{col 37}{space 1}    0.18{col 46}{space 3}0.858{col 54}{space 4}-.0544719{col 67}{space 3} .0654017
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0856986{col 26}{space 2} .0362732{col 37}{space 1}    2.36{col 46}{space 3}0.018{col 54}{space 4} .0146044{col 67}{space 3} .1567928
{txt}{space 7}1994  {c |}{col 14}{res}{space 2} .0200408{col 26}{space 2} .0405923{col 37}{space 1}    0.49{col 46}{space 3}0.622{col 54}{space 4}-.0595187{col 67}{space 3} .0996003
{txt}{space 7}1995  {c |}{col 14}{res}{space 2} -.411434{col 26}{space 2} .0443262{col 37}{space 1}   -9.28{col 46}{space 3}0.000{col 54}{space 4}-.4983118{col 67}{space 3}-.3245562
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8249456{col 26}{space 2} .0480721{col 37}{space 1}  -17.16{col 46}{space 3}0.000{col 54}{space 4}-.9191651{col 67}{space 3}-.7307261
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.185855{col 26}{space 2}  .052025{col 37}{space 1}  -22.79{col 46}{space 3}0.000{col 54}{space 4}-1.287822{col 67}{space 3}-1.083888
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.079421{col 26}{space 2} .0572231{col 37}{space 1}  -18.86{col 46}{space 3}0.000{col 54}{space 4}-1.191576{col 67}{space 3}-.9672658
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.317963{col 26}{space 2} .0639345{col 37}{space 1}   83.18{col 46}{space 3}0.000{col 54}{space 4} 5.192653{col 67}{space 3} 5.443272
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m25
{txt}
{com}. xtgls tfd_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfd_ polcon1 i.dy1, panels(h) corr(psar1) force
{txt}(note: {res}2{txt} observations dropped because only 1 obs in group)

Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic
{txt}Correlation:   {res}panel-specific AR(1)

{txt}Estimated covariances{col 28}= {res}      385{txt}{col 49}Number of obs{col 68}= {res}     3378
{txt}Estimated autocorrelations{col 28}= {res}      385{txt}{col 49}Number of groups{col 68}= {res}      385
{txt}Estimated coefficients{col 28}= {res}       17{txt}{col 49}Obs per group: min{col 68}= {res}        2
{txt}{col 64}avg{col 68}= {res} 8.774026
{txt}{col 64}max{col 68}= {res}        9
{txt}{col 49}Wald chi2({res}16{txt}){col 68}= {res}  1867.87
{txt}{col 49}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0720463{col 26}{space 2} .0030967{col 37}{space 1}   23.27{col 46}{space 3}0.000{col 54}{space 4} .0659769{col 67}{space 3} .0781157
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .0926201{col 26}{space 2} .0746205{col 37}{space 1}    1.24{col 46}{space 3}0.215{col 54}{space 4}-.0536334{col 67}{space 3} .2388736
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0157164{col 26}{space 2} .0033388{col 37}{space 1}   -4.71{col 46}{space 3}0.000{col 54}{space 4}-.0222604{col 67}{space 3}-.0091725
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0123231{col 26}{space 2} .0034661{col 37}{space 1}    3.56{col 46}{space 3}0.000{col 54}{space 4} .0055296{col 67}{space 3} .0191165
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.674233{col 26}{space 2} .3927185{col 37}{space 1}   -6.81{col 46}{space 3}0.000{col 54}{space 4}-3.443947{col 67}{space 3}-1.904518
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0456788{col 26}{space 2} .0061561{col 37}{space 1}   -7.42{col 46}{space 3}0.000{col 54}{space 4}-.0577446{col 67}{space 3}-.0336129
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0071677{col 26}{space 2} .0016386{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4}  .003956{col 67}{space 3} .0103793
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2}-.0653588{col 26}{space 2} .7783126{col 37}{space 1}   -0.08{col 46}{space 3}0.933{col 54}{space 4}-1.590823{col 67}{space 3} 1.460106
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0076855{col 26}{space 2} .0218947{col 37}{space 1}    0.35{col 46}{space 3}0.726{col 54}{space 4}-.0352272{col 67}{space 3} .0505983
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} .0059487{col 26}{space 2} .0305177{col 37}{space 1}    0.19{col 46}{space 3}0.845{col 54}{space 4}-.0538649{col 67}{space 3} .0657623
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0867311{col 26}{space 2} .0361704{col 37}{space 1}    2.40{col 46}{space 3}0.016{col 54}{space 4} .0158385{col 67}{space 3} .1576238
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}  .020058{col 26}{space 2} .0404516{col 37}{space 1}    0.50{col 46}{space 3}0.620{col 54}{space 4}-.0592256{col 67}{space 3} .0993416
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.4116002{col 26}{space 2} .0441634{col 37}{space 1}   -9.32{col 46}{space 3}0.000{col 54}{space 4}-.4981588{col 67}{space 3}-.3250415
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8253815{col 26}{space 2} .0478852{col 37}{space 1}  -17.24{col 46}{space 3}0.000{col 54}{space 4}-.9192347{col 67}{space 3}-.7315283
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.186966{col 26}{space 2} .0518284{col 37}{space 1}  -22.90{col 46}{space 3}0.000{col 54}{space 4}-1.288548{col 67}{space 3}-1.085384
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.079831{col 26}{space 2} .0570517{col 37}{space 1}  -18.93{col 46}{space 3}0.000{col 54}{space 4} -1.19165{col 67}{space 3}-.9680116
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.316445{col 26}{space 2} .0652459{col 37}{space 1}   81.48{col 46}{space 3}0.000{col 54}{space 4} 5.188565{col 67}{space 3} 5.444324
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}.  estimates store m26
{txt}
{com}. xtpcse tfd_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3624
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   120.59
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .091393{col 26}{space 2} .0176363{col 37}{space 1}    5.18{col 46}{space 3}0.000{col 54}{space 4} .0568265{col 67}{space 3} .1259594
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .2590287{col 26}{space 2} .2053223{col 37}{space 1}    1.26{col 46}{space 3}0.207{col 54}{space 4}-.1433956{col 67}{space 3} .6614531
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0370632{col 26}{space 2} .0124326{col 37}{space 1}   -2.98{col 46}{space 3}0.003{col 54}{space 4}-.0614306{col 67}{space 3}-.0126958
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0216571{col 26}{space 2} .0133745{col 37}{space 1}    1.62{col 46}{space 3}0.105{col 54}{space 4}-.0045564{col 67}{space 3} .0478707
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.371046{col 26}{space 2} 1.318011{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-5.954299{col 67}{space 3}-.7877922
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0197903{col 26}{space 2} .0290161{col 37}{space 1}   -0.68{col 46}{space 3}0.495{col 54}{space 4}-.0766609{col 67}{space 3} .0370803
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0046999{col 26}{space 2} .0019145{col 37}{space 1}    2.45{col 46}{space 3}0.014{col 54}{space 4} .0009475{col 67}{space 3} .0084522
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1294681{col 26}{space 2} .0646707{col 37}{space 1}   -2.00{col 46}{space 3}0.045{col 54}{space 4}-.2562203{col 67}{space 3} -.002716
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2149329{col 26}{space 2}  .130461{col 37}{space 1}   -1.65{col 46}{space 3}0.099{col 54}{space 4}-.4706317{col 67}{space 3}  .040766
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1100007{col 26}{space 2} .1768067{col 37}{space 1}   -0.62{col 46}{space 3}0.534{col 54}{space 4}-.4565353{col 67}{space 3}  .236534
{txt}{space 7}1994  {c |}{col 14}{res}{space 2} -.290224{col 26}{space 2} .2140214{col 37}{space 1}   -1.36{col 46}{space 3}0.175{col 54}{space 4}-.7096983{col 67}{space 3} .1292502
{txt}{space 7}1995  {c |}{col 14}{res}{space 2} -.599682{col 26}{space 2} .2441775{col 37}{space 1}   -2.46{col 46}{space 3}0.014{col 54}{space 4}-1.078261{col 67}{space 3} -.121103
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.023932{col 26}{space 2} .2672377{col 37}{space 1}   -3.83{col 46}{space 3}0.000{col 54}{space 4}-1.547708{col 67}{space 3}-.5001556
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.312268{col 26}{space 2} .2841869{col 37}{space 1}   -4.62{col 46}{space 3}0.000{col 54}{space 4}-1.869264{col 67}{space 3}-.7552718
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9069142{col 26}{space 2} .2889836{col 37}{space 1}   -3.14{col 46}{space 3}0.002{col 54}{space 4}-1.473312{col 67}{space 3}-.3405168
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.654224{col 26}{space 2} .3176282{col 37}{space 1}   17.80{col 46}{space 3}0.000{col 54}{space 4} 5.031684{col 67}{space 3} 6.276764
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res}  .885553{txt} {res} .9405364{txt} {res} .6721703{txt} {res}        1{txt} {res}        1{txt} ... {res} .4529666
{txt}{hline 78}

{com}.  estimates store m27
{txt}
{com}. xtpcse tfd_ BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfd_ polcon1 i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3669
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}16{txt}){col 68}= {res}   133.25
{txt}Estimated coefficients{col 28}= {res}       17{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0911364{col 26}{space 2} .0172473{col 37}{space 1}    5.28{col 46}{space 3}0.000{col 54}{space 4} .0573323{col 67}{space 3} .1249406
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .0826538{col 26}{space 2} .2995486{col 37}{space 1}    0.28{col 46}{space 3}0.783{col 54}{space 4}-.5044507{col 67}{space 3} .6697582
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0360658{col 26}{space 2} .0122726{col 37}{space 1}   -2.94{col 46}{space 3}0.003{col 54}{space 4}-.0601197{col 67}{space 3}-.0120119
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0224342{col 26}{space 2} .0135231{col 37}{space 1}    1.66{col 46}{space 3}0.097{col 54}{space 4}-.0040706{col 67}{space 3}  .048939
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.698544{col 26}{space 2} 1.447524{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-6.535639{col 67}{space 3}-.8614485
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0175083{col 26}{space 2}  .028272{col 37}{space 1}   -0.62{col 46}{space 3}0.536{col 54}{space 4}-.0729204{col 67}{space 3} .0379038
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0046554{col 26}{space 2} .0019075{col 37}{space 1}    2.44{col 46}{space 3}0.015{col 54}{space 4} .0009168{col 67}{space 3}  .008394
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 2.626066{col 26}{space 2}  3.08508{col 37}{space 1}    0.85{col 46}{space 3}0.395{col 54}{space 4} -3.42058{col 67}{space 3} 8.672711
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1308005{col 26}{space 2} .0665007{col 37}{space 1}   -1.97{col 46}{space 3}0.049{col 54}{space 4}-.2611394{col 67}{space 3}-.0004616
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2184469{col 26}{space 2} .1333994{col 37}{space 1}   -1.64{col 46}{space 3}0.102{col 54}{space 4}-.4799049{col 67}{space 3} .0430111
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1085265{col 26}{space 2} .1781409{col 37}{space 1}   -0.61{col 46}{space 3}0.542{col 54}{space 4}-.4576763{col 67}{space 3} .2406233
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2917126{col 26}{space 2} .2158128{col 37}{space 1}   -1.35{col 46}{space 3}0.176{col 54}{space 4}-.7146979{col 67}{space 3} .1312728
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6016909{col 26}{space 2} .2458563{col 37}{space 1}   -2.45{col 46}{space 3}0.014{col 54}{space 4} -1.08356{col 67}{space 3}-.1198215
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.026469{col 26}{space 2} .2691666{col 37}{space 1}   -3.81{col 46}{space 3}0.000{col 54}{space 4}-1.554026{col 67}{space 3}-.4989126
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.307294{col 26}{space 2} .2836071{col 37}{space 1}   -4.61{col 46}{space 3}0.000{col 54}{space 4}-1.863154{col 67}{space 3}-.7514344
{txt}{space 7}1998  {c |}{col 14}{res}{space 2} -.902335{col 26}{space 2} .2889811{col 37}{space 1}   -3.12{col 46}{space 3}0.002{col 54}{space 4}-1.468728{col 67}{space 3}-.3359425
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.601073{col 26}{space 2} .2898337{col 37}{space 1}   19.33{col 46}{space 3}0.000{col 54}{space 4}  5.03301{col 67}{space 3} 6.169137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8874297{txt} {res} .9401348{txt} {res}   .68188{txt} {res}        1{txt} {res}        1{txt} ... {res} .4481522
{txt}{hline 78}

{com}.  estimates store m28
{txt}
{com}. 
. estout m21 m22 m23 m24 m25 m26 m27 m28, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2_o r2_w r2_b r2 N N_g vce, fmt(3 3 3 3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 140}
{txt}                      m21             m22             m23             m24             m25             m26             m27             m28   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 140}
{txt}BRdisadv    {res}        0.016***        0.016***        0.056***        0.055***        0.072***        0.072***        0.091***        0.091***{txt}
            {res}      (0.002)         (0.002)         (0.009)         (0.009)         (0.003)         (0.003)         (0.018)         (0.017)   {txt}
{txt}grfd1con_   {res}        0.034           0.020          -0.005          -0.213           0.083           0.093           0.259           0.083   {txt}
            {res}      (0.027)         (0.051)         (0.082)         (0.140)         (0.053)         (0.075)         (0.205)         (0.300)   {txt}
{txt}grfd1BR_    {res}       -0.006***       -0.006***       -0.018***       -0.016***       -0.016***       -0.016***       -0.037***       -0.036***{txt}
            {res}      (0.002)         (0.002)         (0.006)         (0.006)         (0.003)         (0.003)         (0.012)         (0.012)   {txt}
{txt}geocon      {res}        0.008***        0.008***        0.028***        0.028***        0.012***        0.012***        0.022           0.022*  {txt}
            {res}      (0.002)         (0.002)         (0.007)         (0.007)         (0.003)         (0.003)         (0.013)         (0.014)   {txt}
{txt}indcon      {res}       -0.705***       -0.777***       -2.144***       -2.564***       -2.635***       -2.674***       -3.371**        -3.699** {txt}
            {res}      (0.205)         (0.221)         (0.518)         (0.605)         (0.387)         (0.393)         (1.318)         (1.448)   {txt}
{txt}size        {res}       -0.006***       -0.006***       -0.035***       -0.032***       -0.046***       -0.046***       -0.020          -0.018   {txt}
            {res}      (0.002)         (0.002)         (0.009)         (0.008)         (0.006)         (0.006)         (0.029)         (0.028)   {txt}
{txt}ltfc_       {res}        0.843***        0.842***        0.449***        0.446***                                                                {txt}
            {res}      (0.011)         (0.011)         (0.080)         (0.080)                                                                   {txt}
{txt}1990.dy1    {res}        0.000           0.000           0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1991.dy1    {res}       -0.009          -0.008           0.024           0.024           0.007           0.008          -0.129**        -0.131** {txt}
            {res}      (0.017)         (0.017)         (0.038)         (0.040)         (0.022)         (0.022)         (0.065)         (0.067)   {txt}
{txt}1992.dy1    {res}       -0.092***       -0.092***       -0.128**        -0.132**         0.005           0.006          -0.215*         -0.218   {txt}
            {res}      (0.022)         (0.022)         (0.057)         (0.059)         (0.031)         (0.031)         (0.130)         (0.133)   {txt}
{txt}1993.dy1    {res}       -0.087***       -0.088***       -0.207**        -0.203**         0.086**         0.087**        -0.110          -0.109   {txt}
            {res}      (0.025)         (0.025)         (0.083)         (0.085)         (0.036)         (0.036)         (0.177)         (0.178)   {txt}
{txt}1994.dy1    {res}       -0.091***       -0.090***       -0.368***       -0.369***        0.020           0.020          -0.290          -0.292   {txt}
            {res}      (0.027)         (0.027)         (0.106)         (0.108)         (0.041)         (0.040)         (0.214)         (0.216)   {txt}
{txt}1995.dy1    {res}       -0.375***       -0.375***       -0.815***       -0.820***       -0.411***       -0.412***       -0.600**        -0.602** {txt}
            {res}      (0.028)         (0.029)         (0.129)         (0.131)         (0.044)         (0.044)         (0.244)         (0.246)   {txt}
{txt}1996.dy1    {res}       -0.342***       -0.340***       -0.922***       -0.929***       -0.825***       -0.825***       -1.024***       -1.026***{txt}
            {res}      (0.030)         (0.031)         (0.169)         (0.171)         (0.048)         (0.048)         (0.267)         (0.269)   {txt}
{txt}1997.dy1    {res}       -0.377***       -0.374***       -1.036***       -1.040***       -1.186***       -1.187***       -1.312***       -1.307***{txt}
            {res}      (0.033)         (0.033)         (0.196)         (0.198)         (0.052)         (0.052)         (0.284)         (0.284)   {txt}
{txt}1998.dy1    {res}       -0.417***       -0.414***       -1.027***       -1.031***       -1.079***       -1.080***       -0.907***       -0.902***{txt}
            {res}      (0.035)         (0.036)         (0.215)         (0.217)         (0.057)         (0.057)         (0.289)         (0.289)   {txt}
{txt}polcon1     {res}                        0.269                           2.865                          -0.065                           2.626   {txt}
            {res}                      (0.560)                         (1.824)                         (0.778)                         (3.085)   {txt}
{txt}ltfd_       {res}                                                                        0.007***        0.007***        0.005**         0.005** {txt}
            {res}                                                                      (0.002)         (0.002)         (0.002)         (0.002)   {txt}
{txt}Constant    {res}        0.507***        0.506***        2.383***        2.365***        5.318***        5.316***        5.654***        5.601***{txt}
            {res}      (0.052)         (0.053)         (0.425)         (0.424)         (0.064)         (0.065)         (0.318)         (0.290)   {txt}
{txt}{hline 140}
{txt}r2_o        {res}                                                                                                                                {txt}
{txt}r2_w        {res}                                                                                                                                {txt}
{txt}r2_b        {res}                                                                                                                                {txt}
{txt}r2          {res}                                        0.640           0.638                                           0.362           0.367   {txt}
{txt}N           {res}         3483            3483            3483            3483            3378            3378            3380            3380   {txt}
{txt}N_g         {res}          394             394             394             394             385             385             387             387   {txt}
{txt}vce         {res}                                                                                                                                {txt}
{txt}{hline 140}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ********************************************************************************
. *TABLE 4: Alternative Estimations: Partisan Dominance and Tariffs
. ********************************************************************************
. *Interaction Terms
. gen RDconBR_=RDcon_*BRdisadv
{txt}(224 missing values generated)

{com}. gen psg501BR_=psg50dcon1_*BRdisadv
{txt}(224 missing values generated)

{com}. gen h501BR_=h50con1_*BRdisadv
{txt}(224 missing values generated)

{com}. 
. *DV: Tariffs on Total Imports
. xtpcse tfc_ BRdisadv RDcon_ RDconBR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6391
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2724.91
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0521224{col 26}{space 2} .0085086{col 37}{space 1}    6.13{col 46}{space 3}0.000{col 54}{space 4} .0354459{col 67}{space 3} .0687988
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2}-.0146444{col 26}{space 2} .0872926{col 37}{space 1}   -0.17{col 46}{space 3}0.867{col 54}{space 4}-.1857347{col 67}{space 3} .1564458
{txt}{space 4}RDconBR_ {c |}{col 14}{res}{space 2}-.0205558{col 26}{space 2} .0060038{col 37}{space 1}   -3.42{col 46}{space 3}0.001{col 54}{space 4}-.0323231{col 67}{space 3}-.0087885
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0287214{col 26}{space 2} .0079337{col 37}{space 1}    3.62{col 46}{space 3}0.000{col 54}{space 4} .0131717{col 67}{space 3} .0442712
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.135179{col 26}{space 2} .5455123{col 37}{space 1}   -3.91{col 46}{space 3}0.000{col 54}{space 4}-3.204363{col 67}{space 3}-1.065995
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0354509{col 26}{space 2} .0088892{col 37}{space 1}   -3.99{col 46}{space 3}0.000{col 54}{space 4}-.0528734{col 67}{space 3}-.0180284
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4498471{col 26}{space 2} .0802309{col 37}{space 1}    5.61{col 46}{space 3}0.000{col 54}{space 4} .2925975{col 67}{space 3} .6070968
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0243183{col 26}{space 2} .0381406{col 37}{space 1}    0.64{col 46}{space 3}0.524{col 54}{space 4} -.050436{col 67}{space 3} .0990726
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1300642{col 26}{space 2} .0576318{col 37}{space 1}   -2.26{col 46}{space 3}0.024{col 54}{space 4}-.2430203{col 67}{space 3} -.017108
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}  -.20489{col 26}{space 2} .0841364{col 37}{space 1}   -2.44{col 46}{space 3}0.015{col 54}{space 4}-.3697943{col 67}{space 3}-.0399856
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3661925{col 26}{space 2} .1066635{col 37}{space 1}   -3.43{col 46}{space 3}0.001{col 54}{space 4}-.5752492{col 67}{space 3}-.1571358
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8117229{col 26}{space 2} .1292777{col 37}{space 1}   -6.28{col 46}{space 3}0.000{col 54}{space 4}-1.065103{col 67}{space 3}-.5583432
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -.914772{col 26}{space 2}  .169752{col 37}{space 1}   -5.39{col 46}{space 3}0.000{col 54}{space 4} -1.24748{col 67}{space 3}-.5820641
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.027141{col 26}{space 2} .1960538{col 37}{space 1}   -5.24{col 46}{space 3}0.000{col 54}{space 4}  -1.4114{col 67}{space 3} -.642883
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.020789{col 26}{space 2} .2145075{col 37}{space 1}   -4.76{col 46}{space 3}0.000{col 54}{space 4}-1.441216{col 67}{space 3}-.6003618
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.386922{col 26}{space 2} .4262617{col 37}{space 1}    5.60{col 46}{space 3}0.000{col 54}{space 4} 1.551464{col 67}{space 3}  3.22238
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res}   .71594{txt} {res} .7408344{txt} {res}-.1427195{txt} {res} .7188184{txt} {res}        1{txt} ... {res} .6498036
{txt}{hline 78}

{com}.  estimates store m41
{txt}
{com}. xtpcse tfc_ BRdisadv psg50dcon1_ psg501BR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6400
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2469.13
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .053679{col 26}{space 2} .0086589{col 37}{space 1}    6.20{col 46}{space 3}0.000{col 54}{space 4}  .036708{col 67}{space 3} .0706501
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2} .0147448{col 26}{space 2} .0908515{col 37}{space 1}    0.16{col 46}{space 3}0.871{col 54}{space 4}-.1633208{col 67}{space 3} .1928104
{txt}{space 3}psg501BR_ {c |}{col 14}{res}{space 2}-.0163927{col 26}{space 2} .0044701{col 37}{space 1}   -3.67{col 46}{space 3}0.000{col 54}{space 4}-.0251539{col 67}{space 3}-.0076316
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0282379{col 26}{space 2} .0075806{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4} .0133801{col 67}{space 3} .0430956
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -2.36035{col 26}{space 2}  .536319{col 37}{space 1}   -4.40{col 46}{space 3}0.000{col 54}{space 4}-3.411516{col 67}{space 3}-1.309184
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0361448{col 26}{space 2} .0095085{col 37}{space 1}   -3.80{col 46}{space 3}0.000{col 54}{space 4}-.0547812{col 67}{space 3}-.0175084
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4507728{col 26}{space 2} .0802547{col 37}{space 1}    5.62{col 46}{space 3}0.000{col 54}{space 4} .2934765{col 67}{space 3} .6080692
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0273468{col 26}{space 2} .0376158{col 37}{space 1}    0.73{col 46}{space 3}0.467{col 54}{space 4}-.0463789{col 67}{space 3} .1010724
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1252472{col 26}{space 2} .0572252{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-.2374065{col 67}{space 3}-.0130878
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2086561{col 26}{space 2} .0840823{col 37}{space 1}   -2.48{col 46}{space 3}0.013{col 54}{space 4}-.3734545{col 67}{space 3}-.0438578
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3650924{col 26}{space 2} .1059909{col 37}{space 1}   -3.44{col 46}{space 3}0.001{col 54}{space 4}-.5728308{col 67}{space 3} -.157354
{txt}{space 7}1995  {c |}{col 14}{res}{space 2} -.813618{col 26}{space 2} .1292802{col 37}{space 1}   -6.29{col 46}{space 3}0.000{col 54}{space 4}-1.067002{col 67}{space 3}-.5602335
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9166286{col 26}{space 2} .1696597{col 37}{space 1}   -5.40{col 46}{space 3}0.000{col 54}{space 4}-1.249155{col 67}{space 3}-.5841017
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.027352{col 26}{space 2} .1953616{col 37}{space 1}   -5.26{col 46}{space 3}0.000{col 54}{space 4}-1.410254{col 67}{space 3}-.6444502
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.020044{col 26}{space 2} .2137198{col 37}{space 1}   -4.77{col 46}{space 3}0.000{col 54}{space 4}-1.438927{col 67}{space 3}-.6011609
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.399893{col 26}{space 2} .4327765{col 37}{space 1}    5.55{col 46}{space 3}0.000{col 54}{space 4} 1.551667{col 67}{space 3} 3.248119
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7168787{txt} {res} .7460847{txt} {res}-.1479199{txt} {res} .7056449{txt} {res}        1{txt} ... {res} .6259722
{txt}{hline 78}

{com}.  estimates store m42
{txt}
{com}. xtpcse tfc_ BRdisadv h50con1_ h501BR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6393
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2687.62
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0483304{col 26}{space 2} .0074327{col 37}{space 1}    6.50{col 46}{space 3}0.000{col 54}{space 4} .0337625{col 67}{space 3} .0628983
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2} .1520033{col 26}{space 2} .0695021{col 37}{space 1}    2.19{col 46}{space 3}0.029{col 54}{space 4} .0157818{col 67}{space 3} .2882249
{txt}{space 5}h501BR_ {c |}{col 14}{res}{space 2}-.0030891{col 26}{space 2} .0027996{col 37}{space 1}   -1.10{col 46}{space 3}0.270{col 54}{space 4}-.0085763{col 67}{space 3} .0023981
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}  .025177{col 26}{space 2} .0077815{col 37}{space 1}    3.24{col 46}{space 3}0.001{col 54}{space 4} .0099255{col 67}{space 3} .0404286
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.566749{col 26}{space 2} .5603639{col 37}{space 1}   -4.58{col 46}{space 3}0.000{col 54}{space 4}-3.665042{col 67}{space 3}-1.468456
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.034182{col 26}{space 2} .0099199{col 37}{space 1}   -3.45{col 46}{space 3}0.001{col 54}{space 4}-.0536245{col 67}{space 3}-.0147394
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4477772{col 26}{space 2} .0799878{col 37}{space 1}    5.60{col 46}{space 3}0.000{col 54}{space 4} .2910041{col 67}{space 3} .6045503
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0374781{col 26}{space 2} .0418637{col 37}{space 1}    0.90{col 46}{space 3}0.371{col 54}{space 4}-.0445733{col 67}{space 3} .1195295
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1123434{col 26}{space 2} .0621124{col 37}{space 1}   -1.81{col 46}{space 3}0.070{col 54}{space 4}-.2340815{col 67}{space 3} .0093946
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1945939{col 26}{space 2} .0876357{col 37}{space 1}   -2.22{col 46}{space 3}0.026{col 54}{space 4}-.3663568{col 67}{space 3}-.0228311
{txt}{space 7}1994  {c |}{col 14}{res}{space 2} -.357664{col 26}{space 2} .1098095{col 37}{space 1}   -3.26{col 46}{space 3}0.001{col 54}{space 4}-.5728866{col 67}{space 3}-.1424414
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7935579{col 26}{space 2} .1325684{col 37}{space 1}   -5.99{col 46}{space 3}0.000{col 54}{space 4}-1.053387{col 67}{space 3}-.5337287
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8961595{col 26}{space 2}  .172542{col 37}{space 1}   -5.19{col 46}{space 3}0.000{col 54}{space 4}-1.234336{col 67}{space 3}-.5579835
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.028274{col 26}{space 2} .1979645{col 37}{space 1}   -5.19{col 46}{space 3}0.000{col 54}{space 4}-1.416277{col 67}{space 3}-.6402702
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.019385{col 26}{space 2} .2166625{col 37}{space 1}   -4.70{col 46}{space 3}0.000{col 54}{space 4}-1.444036{col 67}{space 3}-.5947348
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.351213{col 26}{space 2}  .432654{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} 1.503227{col 67}{space 3} 3.199199
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7166091{txt} {res}  .752308{txt} {res}-.1441906{txt} {res} .7267814{txt} {res}        1{txt} ... {res} .6211442
{txt}{hline 78}

{com}.  estimates store m43
{txt}
{com}.  
. *DV: Tariffs on Dutiable Imports
. xtpcse tfd_ BRdisadv RDcon_ RDconBR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3480
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   132.46
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .078457{col 26}{space 2} .0158717{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4}  .047349{col 67}{space 3}  .109565
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2}  .103356{col 26}{space 2} .1929932{col 37}{space 1}    0.54{col 46}{space 3}0.592{col 54}{space 4}-.2749037{col 67}{space 3} .4816158
{txt}{space 4}RDconBR_ {c |}{col 14}{res}{space 2}-.0280802{col 26}{space 2} .0131389{col 37}{space 1}   -2.14{col 46}{space 3}0.033{col 54}{space 4}-.0538321{col 67}{space 3}-.0023284
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0192373{col 26}{space 2} .0153485{col 37}{space 1}    1.25{col 46}{space 3}0.210{col 54}{space 4}-.0108451{col 67}{space 3} .0493198
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.172614{col 26}{space 2} 1.375348{col 37}{space 1}   -2.31{col 46}{space 3}0.021{col 54}{space 4}-5.868248{col 67}{space 3}-.4769812
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.023823{col 26}{space 2}  .028421{col 37}{space 1}   -0.84{col 46}{space 3}0.402{col 54}{space 4} -.079527{col 67}{space 3} .0318811
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0047061{col 26}{space 2} .0019367{col 37}{space 1}    2.43{col 46}{space 3}0.015{col 54}{space 4} .0009102{col 67}{space 3} .0085019
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1347324{col 26}{space 2} .0630309{col 37}{space 1}   -2.14{col 46}{space 3}0.033{col 54}{space 4}-.2582707{col 67}{space 3}-.0111942
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2204513{col 26}{space 2}  .127695{col 37}{space 1}   -1.73{col 46}{space 3}0.084{col 54}{space 4} -.470729{col 67}{space 3} .0298264
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1157877{col 26}{space 2} .1745429{col 37}{space 1}   -0.66{col 46}{space 3}0.507{col 54}{space 4}-.4578855{col 67}{space 3} .2263102
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2924648{col 26}{space 2} .2121389{col 37}{space 1}   -1.38{col 46}{space 3}0.168{col 54}{space 4}-.7082493{col 67}{space 3} .1233198
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6045139{col 26}{space 2} .2428973{col 37}{space 1}   -2.49{col 46}{space 3}0.013{col 54}{space 4}-1.080584{col 67}{space 3}-.1284439
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.026709{col 26}{space 2} .2668735{col 37}{space 1}   -3.85{col 46}{space 3}0.000{col 54}{space 4}-1.549771{col 67}{space 3}-.5036465
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.320865{col 26}{space 2}  .283745{col 37}{space 1}   -4.66{col 46}{space 3}0.000{col 54}{space 4}-1.876995{col 67}{space 3}-.7647351
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9191052{col 26}{space 2} .2886069{col 37}{space 1}   -3.18{col 46}{space 3}0.001{col 54}{space 4}-1.484764{col 67}{space 3} -.353446
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.787387{col 26}{space 2} .3214738{col 37}{space 1}   18.00{col 46}{space 3}0.000{col 54}{space 4}  5.15731{col 67}{space 3} 6.417465
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8884203{txt} {res} .9441816{txt} {res} .6091033{txt} {res}        1{txt} {res}        1{txt} ... {res} .4690946
{txt}{hline 78}

{com}.  estimates store m44
{txt}
{com}. xtpcse tfd_ BRdisadv psg50dcon1_ psg501BR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3415
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   137.93
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0847629{col 26}{space 2} .0148187{col 37}{space 1}    5.72{col 46}{space 3}0.000{col 54}{space 4} .0557188{col 67}{space 3} .1138071
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2}  .034875{col 26}{space 2} .1851615{col 37}{space 1}    0.19{col 46}{space 3}0.851{col 54}{space 4}-.3280348{col 67}{space 3} .3977849
{txt}{space 3}psg501BR_ {c |}{col 14}{res}{space 2} -.023476{col 26}{space 2} .0098584{col 37}{space 1}   -2.38{col 46}{space 3}0.017{col 54}{space 4}-.0427981{col 67}{space 3}-.0041539
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0155507{col 26}{space 2} .0126043{col 37}{space 1}    1.23{col 46}{space 3}0.217{col 54}{space 4}-.0091534{col 67}{space 3} .0402547
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.207405{col 26}{space 2} 1.289234{col 37}{space 1}   -2.49{col 46}{space 3}0.013{col 54}{space 4}-5.734257{col 67}{space 3}-.6805524
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0199874{col 26}{space 2} .0284117{col 37}{space 1}   -0.70{col 46}{space 3}0.482{col 54}{space 4}-.0756732{col 67}{space 3} .0356985
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0046884{col 26}{space 2} .0018777{col 37}{space 1}    2.50{col 46}{space 3}0.013{col 54}{space 4} .0010081{col 67}{space 3} .0083687
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1339648{col 26}{space 2} .0685012{col 37}{space 1}   -1.96{col 46}{space 3}0.051{col 54}{space 4}-.2682247{col 67}{space 3}  .000295
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2191765{col 26}{space 2}  .134169{col 37}{space 1}   -1.63{col 46}{space 3}0.102{col 54}{space 4}-.4821429{col 67}{space 3}   .04379
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1283128{col 26}{space 2} .1832644{col 37}{space 1}   -0.70{col 46}{space 3}0.484{col 54}{space 4}-.4875044{col 67}{space 3} .2308788
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3036096{col 26}{space 2} .2197053{col 37}{space 1}   -1.38{col 46}{space 3}0.167{col 54}{space 4} -.734224{col 67}{space 3} .1270048
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6216399{col 26}{space 2}  .249639{col 37}{space 1}   -2.49{col 46}{space 3}0.013{col 54}{space 4}-1.110923{col 67}{space 3}-.1323564
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.038759{col 26}{space 2} .2730244{col 37}{space 1}   -3.80{col 46}{space 3}0.000{col 54}{space 4}-1.573878{col 67}{space 3}-.5036414
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.323616{col 26}{space 2} .2896061{col 37}{space 1}   -4.57{col 46}{space 3}0.000{col 54}{space 4}-1.891233{col 67}{space 3}-.7559981
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9096135{col 26}{space 2} .2950153{col 37}{space 1}   -3.08{col 46}{space 3}0.002{col 54}{space 4}-1.487833{col 67}{space 3}-.3313941
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.738811{col 26}{space 2} .3239846{col 37}{space 1}   17.71{col 46}{space 3}0.000{col 54}{space 4} 5.103813{col 67}{space 3} 6.373809
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8838401{txt} {res} .9446101{txt} {res} .6609309{txt} {res}        1{txt} {res}        1{txt} ... {res} .4658784
{txt}{hline 78}

{com}.  estimates store m45
{txt}
{com}. xtpcse tfd_ BRdisadv h50con1_ h501BR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3721
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   129.51
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0720487{col 26}{space 2} .0159602{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} .0407672{col 67}{space 3} .1033302
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2} .1550095{col 26}{space 2} .1206214{col 37}{space 1}    1.29{col 46}{space 3}0.199{col 54}{space 4}-.0814042{col 67}{space 3} .3914231
{txt}{space 5}h501BR_ {c |}{col 14}{res}{space 2}-.0144145{col 26}{space 2}  .005845{col 37}{space 1}   -2.47{col 46}{space 3}0.014{col 54}{space 4}-.0258704{col 67}{space 3}-.0029586
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0220308{col 26}{space 2} .0169134{col 37}{space 1}    1.30{col 46}{space 3}0.193{col 54}{space 4}-.0111187{col 67}{space 3} .0551804
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-4.389612{col 26}{space 2} 1.384014{col 37}{space 1}   -3.17{col 46}{space 3}0.002{col 54}{space 4} -7.10223{col 67}{space 3}-1.676994
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0298789{col 26}{space 2} .0319392{col 37}{space 1}   -0.94{col 46}{space 3}0.350{col 54}{space 4}-.0924786{col 67}{space 3} .0327208
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0047174{col 26}{space 2}  .001921{col 37}{space 1}    2.46{col 46}{space 3}0.014{col 54}{space 4} .0009524{col 67}{space 3} .0084825
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1206093{col 26}{space 2} .0731391{col 37}{space 1}   -1.65{col 46}{space 3}0.099{col 54}{space 4}-.2639594{col 67}{space 3} .0227408
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} -.210496{col 26}{space 2} .1338319{col 37}{space 1}   -1.57{col 46}{space 3}0.116{col 54}{space 4}-.4728017{col 67}{space 3} .0518097
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.0922932{col 26}{space 2} .1764701{col 37}{space 1}   -0.52{col 46}{space 3}0.601{col 54}{space 4}-.4381682{col 67}{space 3} .2535817
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2537328{col 26}{space 2} .2129028{col 37}{space 1}   -1.19{col 46}{space 3}0.233{col 54}{space 4}-.6710147{col 67}{space 3} .1635491
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.5414954{col 26}{space 2} .2430316{col 37}{space 1}   -2.23{col 46}{space 3}0.026{col 54}{space 4}-1.017829{col 67}{space 3}-.0651622
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9526036{col 26}{space 2} .2656402{col 37}{space 1}   -3.59{col 46}{space 3}0.000{col 54}{space 4}-1.473249{col 67}{space 3}-.4319584
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.245869{col 26}{space 2} .2840046{col 37}{space 1}   -4.39{col 46}{space 3}0.000{col 54}{space 4}-1.802508{col 67}{space 3}-.6892306
{txt}{space 7}1998  {c |}{col 14}{res}{space 2} -.847919{col 26}{space 2} .2891903{col 37}{space 1}   -2.93{col 46}{space 3}0.003{col 54}{space 4}-1.414722{col 67}{space 3}-.2811164
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  5.91055{col 26}{space 2} .3155586{col 37}{space 1}   18.73{col 46}{space 3}0.000{col 54}{space 4} 5.292067{col 67}{space 3} 6.529034
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8927023{txt} {res}   .94445{txt} {res} .6276752{txt} {res}        1{txt} {res}        1{txt} ... {res} .4201668
{txt}{hline 78}

{com}.  estimates store m46
{txt}
{com}. 
. estout m41 m42 m43 m44 m45 m46, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2 N N_g vce, fmt(3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 108}
{txt}                      m41             m42             m43             m44             m45             m46   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 108}
{txt}BRdisadv    {res}        0.052***        0.054***        0.048***        0.078***        0.085***        0.072***{txt}
            {res}      (0.009)         (0.009)         (0.007)         (0.016)         (0.015)         (0.016)   {txt}
{txt}RDcon_      {res}       -0.015                                           0.103                                   {txt}
            {res}      (0.087)                                         (0.193)                                   {txt}
{txt}RDconBR_    {res}       -0.021***                                       -0.028**                                 {txt}
            {res}      (0.006)                                         (0.013)                                   {txt}
{txt}geocon      {res}        0.029***        0.028***        0.025***        0.019           0.016           0.022   {txt}
            {res}      (0.008)         (0.008)         (0.008)         (0.015)         (0.013)         (0.017)   {txt}
{txt}indcon      {res}       -2.135***       -2.360***       -2.567***       -3.173**        -3.207**        -4.390***{txt}
            {res}      (0.546)         (0.536)         (0.560)         (1.375)         (1.289)         (1.384)   {txt}
{txt}size        {res}       -0.035***       -0.036***       -0.034***       -0.024          -0.020          -0.030   {txt}
            {res}      (0.009)         (0.010)         (0.010)         (0.028)         (0.028)         (0.032)   {txt}
{txt}ltfc_       {res}        0.450***        0.451***        0.448***                                                {txt}
            {res}      (0.080)         (0.080)         (0.080)                                                   {txt}
{txt}1990.dy1    {res}        0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1991.dy1    {res}        0.024           0.027           0.037          -0.135**        -0.134*         -0.121*  {txt}
            {res}      (0.038)         (0.038)         (0.042)         (0.063)         (0.069)         (0.073)   {txt}
{txt}1992.dy1    {res}       -0.130**        -0.125**        -0.112*         -0.220*         -0.219          -0.210   {txt}
            {res}      (0.058)         (0.057)         (0.062)         (0.128)         (0.134)         (0.134)   {txt}
{txt}1993.dy1    {res}       -0.205**        -0.209**        -0.195**        -0.116          -0.128          -0.092   {txt}
            {res}      (0.084)         (0.084)         (0.088)         (0.175)         (0.183)         (0.176)   {txt}
{txt}1994.dy1    {res}       -0.366***       -0.365***       -0.358***       -0.292          -0.304          -0.254   {txt}
            {res}      (0.107)         (0.106)         (0.110)         (0.212)         (0.220)         (0.213)   {txt}
{txt}1995.dy1    {res}       -0.812***       -0.814***       -0.794***       -0.605**        -0.622**        -0.541** {txt}
            {res}      (0.129)         (0.129)         (0.133)         (0.243)         (0.250)         (0.243)   {txt}
{txt}1996.dy1    {res}       -0.915***       -0.917***       -0.896***       -1.027***       -1.039***       -0.953***{txt}
            {res}      (0.170)         (0.170)         (0.173)         (0.267)         (0.273)         (0.266)   {txt}
{txt}1997.dy1    {res}       -1.027***       -1.027***       -1.028***       -1.321***       -1.324***       -1.246***{txt}
            {res}      (0.196)         (0.195)         (0.198)         (0.284)         (0.290)         (0.284)   {txt}
{txt}1998.dy1    {res}       -1.021***       -1.020***       -1.019***       -0.919***       -0.910***       -0.848***{txt}
            {res}      (0.215)         (0.214)         (0.217)         (0.289)         (0.295)         (0.289)   {txt}
{txt}psg50dcon1_ {res}                        0.015                                           0.035                   {txt}
            {res}                      (0.091)                                         (0.185)                   {txt}
{txt}psg501BR_   {res}                       -0.016***                                       -0.023**                 {txt}
            {res}                      (0.004)                                         (0.010)                   {txt}
{txt}h50con1_    {res}                                        0.152**                                         0.155   {txt}
            {res}                                      (0.070)                                         (0.121)   {txt}
{txt}h501BR_     {res}                                       -0.003                                          -0.014** {txt}
            {res}                                      (0.003)                                         (0.006)   {txt}
{txt}ltfd_       {res}                                                        0.005**         0.005**         0.005** {txt}
            {res}                                                      (0.002)         (0.002)         (0.002)   {txt}
{txt}Constant    {res}        2.387***        2.400***        2.351***        5.787***        5.739***        5.911***{txt}
            {res}      (0.426)         (0.433)         (0.433)         (0.321)         (0.324)         (0.316)   {txt}
{txt}{hline 108}
{txt}r2          {res}        0.639           0.640           0.639           0.348           0.341           0.372   {txt}
{txt}N           {res}         3483            3483            3483            3380            3380            3380   {txt}
{txt}N_g         {res}          394             394             394             387             387             387   {txt}
{txt}vce         {res}                                                                                                {txt}
{txt}{hline 108}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. ********************************************************************************
. **TABLE A2: Import Penetration Ratio, Partisan Dominance and Tariff Protection
. ********************************************************************************
. *Interaction Terms
. gen RDconBRR_=RDcon_*BRR
{txt}(232 missing values generated)

{com}. gen psg501BRR_=psg50dcon1_*BRR
{txt}(232 missing values generated)

{com}. gen h501BRR_=h50con1_*BRR
{txt}(232 missing values generated)

{com}. 
. *DV: Tariffs on Total Imports
. xtpcse tfc_ BRR RDcon_ RDconBRR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6532
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  1494.55
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} .0156398{col 26}{space 2} .0078397{col 37}{space 1}    1.99{col 46}{space 3}0.046{col 54}{space 4} .0002742{col 67}{space 3} .0310055
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2}-.0091566{col 26}{space 2} .0946827{col 37}{space 1}   -0.10{col 46}{space 3}0.923{col 54}{space 4}-.1947312{col 67}{space 3} .1764179
{txt}{space 3}RDconBRR_ {c |}{col 14}{res}{space 2}-.0135098{col 26}{space 2} .0060551{col 37}{space 1}   -2.23{col 46}{space 3}0.026{col 54}{space 4}-.0253776{col 67}{space 3} -.001642
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0201677{col 26}{space 2} .0082508{col 37}{space 1}    2.44{col 46}{space 3}0.015{col 54}{space 4} .0039964{col 67}{space 3} .0363391
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.480134{col 26}{space 2} .5031636{col 37}{space 1}   -4.93{col 46}{space 3}0.000{col 54}{space 4}-3.466317{col 67}{space 3}-1.493952
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0389022{col 26}{space 2} .0083315{col 37}{space 1}   -4.67{col 46}{space 3}0.000{col 54}{space 4}-.0552317{col 67}{space 3}-.0225727
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4980558{col 26}{space 2} .0826423{col 37}{space 1}    6.03{col 46}{space 3}0.000{col 54}{space 4} .3360799{col 67}{space 3} .6600317
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0156797{col 26}{space 2}  .044943{col 37}{space 1}    0.35{col 46}{space 3}0.727{col 54}{space 4} -.072407{col 67}{space 3} .1037663
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1574279{col 26}{space 2} .0678961{col 37}{space 1}   -2.32{col 46}{space 3}0.020{col 54}{space 4}-.2905019{col 67}{space 3} -.024354
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1920946{col 26}{space 2} .0935716{col 37}{space 1}   -2.05{col 46}{space 3}0.040{col 54}{space 4}-.3754916{col 67}{space 3}-.0086976
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3161668{col 26}{space 2} .1135703{col 37}{space 1}   -2.78{col 46}{space 3}0.005{col 54}{space 4}-.5387606{col 67}{space 3}-.0935731
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7101583{col 26}{space 2} .1335975{col 37}{space 1}   -5.32{col 46}{space 3}0.000{col 54}{space 4}-.9720046{col 67}{space 3}-.4483121
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7749577{col 26}{space 2} .1730518{col 37}{space 1}   -4.48{col 46}{space 3}0.000{col 54}{space 4}-1.114133{col 67}{space 3}-.4357824
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8354889{col 26}{space 2} .1993394{col 37}{space 1}   -4.19{col 46}{space 3}0.000{col 54}{space 4}-1.226187{col 67}{space 3}-.4447908
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8396031{col 26}{space 2} .2173529{col 37}{space 1}   -3.86{col 46}{space 3}0.000{col 54}{space 4}-1.265607{col 67}{space 3}-.4135992
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.321696{col 26}{space 2} .4619673{col 37}{space 1}    5.03{col 46}{space 3}0.000{col 54}{space 4} 1.416256{col 67}{space 3} 3.227135
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7362533{txt} {res} .6222075{txt} {res}-.1109502{txt} {res} .4073345{txt} {res}        1{txt} ... {res} .7656526
{txt}{hline 78}

{com}.  estimates store mA21
{txt}
{com}. xtpcse tfc_ BRR RDcon_ RDconBRR_ geocon indcon size ltfc_ polcon1 i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6536
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}16{txt}){col 68}= {res}  1738.96
{txt}Estimated coefficients{col 28}= {res}       17{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} .0156405{col 26}{space 2} .0078595{col 37}{space 1}    1.99{col 46}{space 3}0.047{col 54}{space 4} .0002362{col 67}{space 3} .0310448
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2}-.1735007{col 26}{space 2} .1651534{col 37}{space 1}   -1.05{col 46}{space 3}0.293{col 54}{space 4}-.4971954{col 67}{space 3} .1501939
{txt}{space 3}RDconBRR_ {c |}{col 14}{res}{space 2}-.0134903{col 26}{space 2} .0060697{col 37}{space 1}   -2.22{col 46}{space 3}0.026{col 54}{space 4}-.0253868{col 67}{space 3}-.0015939
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0182574{col 26}{space 2} .0076039{col 37}{space 1}    2.40{col 46}{space 3}0.016{col 54}{space 4}  .003354{col 67}{space 3} .0331607
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.819362{col 26}{space 2} .5542506{col 37}{space 1}   -5.09{col 46}{space 3}0.000{col 54}{space 4}-3.905673{col 67}{space 3} -1.73305
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0364548{col 26}{space 2} .0081746{col 37}{space 1}   -4.46{col 46}{space 3}0.000{col 54}{space 4}-.0524768{col 67}{space 3}-.0204328
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4974068{col 26}{space 2} .0824726{col 37}{space 1}    6.03{col 46}{space 3}0.000{col 54}{space 4} .3357636{col 67}{space 3} .6590501
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 2.283264{col 26}{space 2} 1.769136{col 37}{space 1}    1.29{col 46}{space 3}0.197{col 54}{space 4}-1.184179{col 67}{space 3} 5.750707
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0165304{col 26}{space 2} .0453667{col 37}{space 1}    0.36{col 46}{space 3}0.716{col 54}{space 4}-.0723867{col 67}{space 3} .1054474
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1595261{col 26}{space 2}  .068279{col 37}{space 1}   -2.34{col 46}{space 3}0.019{col 54}{space 4}-.2933505{col 67}{space 3}-.0257017
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1883617{col 26}{space 2} .0942971{col 37}{space 1}   -2.00{col 46}{space 3}0.046{col 54}{space 4}-.3731806{col 67}{space 3}-.0035427
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3149417{col 26}{space 2} .1140752{col 37}{space 1}   -2.76{col 46}{space 3}0.006{col 54}{space 4}-.5385249{col 67}{space 3}-.0913585
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7119027{col 26}{space 2} .1339588{col 37}{space 1}   -5.31{col 46}{space 3}0.000{col 54}{space 4}-.9744571{col 67}{space 3}-.4493484
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7778987{col 26}{space 2} .1734092{col 37}{space 1}   -4.49{col 46}{space 3}0.000{col 54}{space 4}-1.117775{col 67}{space 3}-.4380229
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8376981{col 26}{space 2} .1996881{col 37}{space 1}   -4.20{col 46}{space 3}0.000{col 54}{space 4} -1.22908{col 67}{space 3}-.4463166
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8427225{col 26}{space 2} .2177383{col 37}{space 1}   -3.87{col 46}{space 3}0.000{col 54}{space 4}-1.269482{col 67}{space 3}-.4159632
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.281075{col 26}{space 2} .4635544{col 37}{space 1}    4.92{col 46}{space 3}0.000{col 54}{space 4} 1.372525{col 67}{space 3} 3.189624
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7362639{txt} {res} .6221904{txt} {res}-.1109645{txt} {res} .4074808{txt} {res}        1{txt} ... {res} .7656685
{txt}{hline 78}

{com}.  estimates store mA22
{txt}
{com}. xtpcse tfc_ BRR psg50dcon1_ psg501BRR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6563
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  1636.97
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} .0215937{col 26}{space 2} .0108754{col 37}{space 1}    1.99{col 46}{space 3}0.047{col 54}{space 4} .0002784{col 67}{space 3}  .042909
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2}-.0065498{col 26}{space 2} .0886244{col 37}{space 1}   -0.07{col 46}{space 3}0.941{col 54}{space 4}-.1802504{col 67}{space 3} .1671507
{txt}{space 2}psg501BRR_ {c |}{col 14}{res}{space 2}-.0181045{col 26}{space 2} .0089895{col 37}{space 1}   -2.01{col 46}{space 3}0.044{col 54}{space 4}-.0357237{col 67}{space 3}-.0004854
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0208468{col 26}{space 2} .0076999{col 37}{space 1}    2.71{col 46}{space 3}0.007{col 54}{space 4} .0057552{col 67}{space 3} .0359384
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.328179{col 26}{space 2}  .497838{col 37}{space 1}   -4.68{col 46}{space 3}0.000{col 54}{space 4}-3.303924{col 67}{space 3}-1.352435
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0398794{col 26}{space 2}  .008843{col 37}{space 1}   -4.51{col 46}{space 3}0.000{col 54}{space 4}-.0572114{col 67}{space 3}-.0225473
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4955092{col 26}{space 2} .0825435{col 37}{space 1}    6.00{col 46}{space 3}0.000{col 54}{space 4} .3337268{col 67}{space 3} .6572915
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0079525{col 26}{space 2} .0438546{col 37}{space 1}    0.18{col 46}{space 3}0.856{col 54}{space 4} -.078001{col 67}{space 3}  .093906
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} -.158717{col 26}{space 2} .0665965{col 37}{space 1}   -2.38{col 46}{space 3}0.017{col 54}{space 4}-.2892437{col 67}{space 3}-.0281904
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1950172{col 26}{space 2} .0928026{col 37}{space 1}   -2.10{col 46}{space 3}0.036{col 54}{space 4} -.376907{col 67}{space 3}-.0131274
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3169024{col 26}{space 2} .1118279{col 37}{space 1}   -2.83{col 46}{space 3}0.005{col 54}{space 4} -.536081{col 67}{space 3}-.0977237
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7116966{col 26}{space 2}  .131856{col 37}{space 1}   -5.40{col 46}{space 3}0.000{col 54}{space 4}-.9701295{col 67}{space 3}-.4532636
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -.779728{col 26}{space 2} .1715812{col 37}{space 1}   -4.54{col 46}{space 3}0.000{col 54}{space 4}-1.116021{col 67}{space 3} -.443435
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8427179{col 26}{space 2} .1970897{col 37}{space 1}   -4.28{col 46}{space 3}0.000{col 54}{space 4}-1.229007{col 67}{space 3}-.4564291
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8485849{col 26}{space 2}  .215828{col 37}{space 1}   -3.93{col 46}{space 3}0.000{col 54}{space 4}  -1.2716{col 67}{space 3}-.4255697
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.324433{col 26}{space 2} .4669119{col 37}{space 1}    4.98{col 46}{space 3}0.000{col 54}{space 4} 1.409302{col 67}{space 3} 3.239563
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7447539{txt} {res}  .636814{txt} {res}-.1075022{txt} {res} .4237904{txt} {res}        1{txt} ... {res} .7544594
{txt}{hline 78}

{com}.  estimates store mA23
{txt}
{com}. *DV: Tariffs on Dutiable Imports
. xtpcse tfc_ BRR psg50dcon1_ psg501BRR_ geocon indcon size ltfc_ polcon1 i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6549
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}16{txt}){col 68}= {res}  1707.71
{txt}Estimated coefficients{col 28}= {res}       17{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2}   .02151{col 26}{space 2}  .010935{col 37}{space 1}    1.97{col 46}{space 3}0.049{col 54}{space 4} .0000777{col 67}{space 3} .0429422
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2}-.2848782{col 26}{space 2} .1780432{col 37}{space 1}   -1.60{col 46}{space 3}0.110{col 54}{space 4}-.6338365{col 67}{space 3}   .06408
{txt}{space 2}psg501BRR_ {c |}{col 14}{res}{space 2}-.0180034{col 26}{space 2} .0090431{col 37}{space 1}   -1.99{col 46}{space 3}0.046{col 54}{space 4}-.0357275{col 67}{space 3}-.0002793
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0181525{col 26}{space 2} .0072528{col 37}{space 1}    2.50{col 46}{space 3}0.012{col 54}{space 4} .0039373{col 67}{space 3} .0323677
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.621938{col 26}{space 2} .5291877{col 37}{space 1}   -4.95{col 46}{space 3}0.000{col 54}{space 4}-3.659127{col 67}{space 3}-1.584749
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0383092{col 26}{space 2}  .008233{col 37}{space 1}   -4.65{col 46}{space 3}0.000{col 54}{space 4}-.0544455{col 67}{space 3}-.0221728
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4929532{col 26}{space 2} .0825825{col 37}{space 1}    5.97{col 46}{space 3}0.000{col 54}{space 4} .3310945{col 67}{space 3} .6548118
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} 3.033375{col 26}{space 2}  1.97493{col 37}{space 1}    1.54{col 46}{space 3}0.125{col 54}{space 4}-.8374163{col 67}{space 3} 6.904166
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0088473{col 26}{space 2} .0436634{col 37}{space 1}    0.20{col 46}{space 3}0.839{col 54}{space 4}-.0767315{col 67}{space 3} .0944261
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1593671{col 26}{space 2}  .066235{col 37}{space 1}   -2.41{col 46}{space 3}0.016{col 54}{space 4}-.2891853{col 67}{space 3}-.0295489
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1977267{col 26}{space 2} .0923147{col 37}{space 1}   -2.14{col 46}{space 3}0.032{col 54}{space 4}-.3786601{col 67}{space 3}-.0167933
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3210806{col 26}{space 2} .1115878{col 37}{space 1}   -2.88{col 46}{space 3}0.004{col 54}{space 4}-.5397887{col 67}{space 3}-.1023726
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7102619{col 26}{space 2} .1312776{col 37}{space 1}   -5.41{col 46}{space 3}0.000{col 54}{space 4}-.9675613{col 67}{space 3}-.4529624
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7792428{col 26}{space 2} .1711068{col 37}{space 1}   -4.55{col 46}{space 3}0.000{col 54}{space 4}-1.114606{col 67}{space 3}-.4438797
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8467046{col 26}{space 2} .1972477{col 37}{space 1}   -4.29{col 46}{space 3}0.000{col 54}{space 4}-1.233303{col 67}{space 3}-.4601063
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8554609{col 26}{space 2} .2162433{col 37}{space 1}   -3.96{col 46}{space 3}0.000{col 54}{space 4} -1.27929{col 67}{space 3}-.4316318
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.309096{col 26}{space 2} .4579413{col 37}{space 1}    5.04{col 46}{space 3}0.000{col 54}{space 4} 1.411547{col 67}{space 3} 3.206644
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7505798{txt} {res} .6296882{txt} {res}-.1163856{txt} {res} .4355857{txt} {res}        1{txt} ... {res} .7542324
{txt}{hline 78}

{com}.  estimates store mA24
{txt}
{com}. xtpcse tfc_ BRR h50con1_ h501BRR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6536
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  1538.15
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} .0173381{col 26}{space 2} .0100824{col 37}{space 1}    1.72{col 46}{space 3}0.085{col 54}{space 4}-.0024231{col 67}{space 3} .0370992
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2} .1330563{col 26}{space 2}   .06568{col 37}{space 1}    2.03{col 46}{space 3}0.043{col 54}{space 4} .0043258{col 67}{space 3} .2617868
{txt}{space 4}h501BRR_ {c |}{col 14}{res}{space 2}-.0107071{col 26}{space 2} .0059978{col 37}{space 1}   -1.79{col 46}{space 3}0.074{col 54}{space 4}-.0224626{col 67}{space 3} .0010484
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0164854{col 26}{space 2} .0076975{col 37}{space 1}    2.14{col 46}{space 3}0.032{col 54}{space 4} .0013986{col 67}{space 3} .0315722
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -2.60303{col 26}{space 2} .5200308{col 37}{space 1}   -5.01{col 46}{space 3}0.000{col 54}{space 4}-3.622272{col 67}{space 3}-1.583788
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.037391{col 26}{space 2}  .008554{col 37}{space 1}   -4.37{col 46}{space 3}0.000{col 54}{space 4}-.0541565{col 67}{space 3}-.0206255
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4949995{col 26}{space 2}  .082607{col 37}{space 1}    5.99{col 46}{space 3}0.000{col 54}{space 4} .3330927{col 67}{space 3} .6569062
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0169292{col 26}{space 2} .0454473{col 37}{space 1}    0.37{col 46}{space 3}0.710{col 54}{space 4}-.0721459{col 67}{space 3} .1060043
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1512026{col 26}{space 2} .0688009{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-.2860499{col 67}{space 3}-.0163553
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1903589{col 26}{space 2} .0941129{col 37}{space 1}   -2.02{col 46}{space 3}0.043{col 54}{space 4}-.3748168{col 67}{space 3}-.0059009
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}    -.317{col 26}{space 2} .1137483{col 37}{space 1}   -2.79{col 46}{space 3}0.005{col 54}{space 4}-.5399426{col 67}{space 3}-.0940574
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7056717{col 26}{space 2} .1341084{col 37}{space 1}   -5.26{col 46}{space 3}0.000{col 54}{space 4}-.9685192{col 67}{space 3}-.4428241
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7672813{col 26}{space 2} .1740421{col 37}{space 1}   -4.41{col 46}{space 3}0.000{col 54}{space 4}-1.108398{col 67}{space 3}-.4261651
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8515735{col 26}{space 2} .1995608{col 37}{space 1}   -4.27{col 46}{space 3}0.000{col 54}{space 4}-1.242706{col 67}{space 3}-.4604414
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8515174{col 26}{space 2}   .21878{col 37}{space 1}   -3.89{col 46}{space 3}0.000{col 54}{space 4}-1.280318{col 67}{space 3}-.4227165
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.280776{col 26}{space 2} .4628982{col 37}{space 1}    4.93{col 46}{space 3}0.000{col 54}{space 4} 1.373512{col 67}{space 3}  3.18804
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7467007{txt} {res} .6645091{txt} {res}-.1087592{txt} {res} .4260378{txt} {res}        1{txt} ... {res} .7382075
{txt}{hline 78}

{com}.  estimates store mA25
{txt}
{com}. xtpcse tfc_ BRR h50con1_ h501BRR_ geocon indcon size ltfc_ polcon1 i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6499
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}16{txt}){col 68}= {res}  1741.38
{txt}Estimated coefficients{col 28}= {res}       17{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2}  .017465{col 26}{space 2} .0100338{col 37}{space 1}    1.74{col 46}{space 3}0.082{col 54}{space 4}-.0022009{col 67}{space 3} .0371309
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2} .1760899{col 26}{space 2} .1026883{col 37}{space 1}    1.71{col 46}{space 3}0.086{col 54}{space 4}-.0251755{col 67}{space 3} .3773553
{txt}{space 4}h501BRR_ {c |}{col 14}{res}{space 2}-.0108015{col 26}{space 2}  .005979{col 37}{space 1}   -1.81{col 46}{space 3}0.071{col 54}{space 4}-.0225201{col 67}{space 3} .0009172
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0188796{col 26}{space 2} .0083921{col 37}{space 1}    2.25{col 46}{space 3}0.024{col 54}{space 4} .0024315{col 67}{space 3} .0353278
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.570643{col 26}{space 2} .5123441{col 37}{space 1}   -5.02{col 46}{space 3}0.000{col 54}{space 4}-3.574819{col 67}{space 3}-1.566467
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0374008{col 26}{space 2}  .008147{col 37}{space 1}   -4.59{col 46}{space 3}0.000{col 54}{space 4}-.0533686{col 67}{space 3} -.021433
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4985284{col 26}{space 2} .0826139{col 37}{space 1}    6.03{col 46}{space 3}0.000{col 54}{space 4} .3366081{col 67}{space 3} .6604488
{txt}{space 5}polcon1 {c |}{col 14}{res}{space 2} -1.43405{col 26}{space 2} 1.768995{col 37}{space 1}   -0.81{col 46}{space 3}0.418{col 54}{space 4}-4.901216{col 67}{space 3} 2.033116
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0223189{col 26}{space 2} .0465458{col 37}{space 1}    0.48{col 46}{space 3}0.632{col 54}{space 4}-.0689091{col 67}{space 3} .1135469
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1438199{col 26}{space 2} .0691024{col 37}{space 1}   -2.08{col 46}{space 3}0.037{col 54}{space 4}-.2792581{col 67}{space 3}-.0083817
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1811205{col 26}{space 2}  .092737{col 37}{space 1}   -1.95{col 46}{space 3}0.051{col 54}{space 4}-.3628817{col 67}{space 3} .0006407
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3054602{col 26}{space 2} .1125461{col 37}{space 1}   -2.71{col 46}{space 3}0.007{col 54}{space 4}-.5260465{col 67}{space 3}-.0848738
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6916267{col 26}{space 2} .1339761{col 37}{space 1}   -5.16{col 46}{space 3}0.000{col 54}{space 4}-.9542149{col 67}{space 3}-.4290384
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7508001{col 26}{space 2} .1744743{col 37}{space 1}   -4.30{col 46}{space 3}0.000{col 54}{space 4}-1.092763{col 67}{space 3}-.4088367
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8407812{col 26}{space 2} .1983039{col 37}{space 1}   -4.24{col 46}{space 3}0.000{col 54}{space 4} -1.22945{col 67}{space 3}-.4521127
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8363023{col 26}{space 2} .2179627{col 37}{space 1}   -3.84{col 46}{space 3}0.000{col 54}{space 4}-1.263501{col 67}{space 3}-.4091033
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.272021{col 26}{space 2} .4646394{col 37}{space 1}    4.89{col 46}{space 3}0.000{col 54}{space 4} 1.361345{col 67}{space 3} 3.182698
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7639804{txt} {res} .6441747{txt} {res}-.1221088{txt} {res}  .490723{txt} {res}        1{txt} ... {res} .7362725
{txt}{hline 78}

{com}.  estimates store mA26
{txt}
{com}. 
. estout mA21 mA22 mA23 mA24 mA25 mA26, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2 N N_g vce, fmt(3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 108}
{txt}                     mA21            mA22            mA23            mA24            mA25            mA26   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 108}
{txt}BRR         {res}        0.016**         0.016**         0.022**         0.022**         0.017*          0.017*  {txt}
            {res}      (0.008)         (0.008)         (0.011)         (0.011)         (0.010)         (0.010)   {txt}
{txt}RDcon_      {res}       -0.009          -0.174                                                                   {txt}
            {res}      (0.095)         (0.165)                                                                   {txt}
{txt}RDconBRR_   {res}       -0.014**        -0.013**                                                                 {txt}
            {res}      (0.006)         (0.006)                                                                   {txt}
{txt}geocon      {res}        0.020**         0.018**         0.021***        0.018**         0.016**         0.019** {txt}
            {res}      (0.008)         (0.008)         (0.008)         (0.007)         (0.008)         (0.008)   {txt}
{txt}indcon      {res}       -2.480***       -2.819***       -2.328***       -2.622***       -2.603***       -2.571***{txt}
            {res}      (0.503)         (0.554)         (0.498)         (0.529)         (0.520)         (0.512)   {txt}
{txt}size        {res}       -0.039***       -0.036***       -0.040***       -0.038***       -0.037***       -0.037***{txt}
            {res}      (0.008)         (0.008)         (0.009)         (0.008)         (0.009)         (0.008)   {txt}
{txt}ltfc_       {res}        0.498***        0.497***        0.496***        0.493***        0.495***        0.499***{txt}
            {res}      (0.083)         (0.082)         (0.083)         (0.083)         (0.083)         (0.083)   {txt}
{txt}1990.dy1    {res}        0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1991.dy1    {res}        0.016           0.017           0.008           0.009           0.017           0.022   {txt}
            {res}      (0.045)         (0.045)         (0.044)         (0.044)         (0.045)         (0.047)   {txt}
{txt}1992.dy1    {res}       -0.157**        -0.160**        -0.159**        -0.159**        -0.151**        -0.144** {txt}
            {res}      (0.068)         (0.068)         (0.067)         (0.066)         (0.069)         (0.069)   {txt}
{txt}1993.dy1    {res}       -0.192**        -0.188**        -0.195**        -0.198**        -0.190**        -0.181*  {txt}
            {res}      (0.094)         (0.094)         (0.093)         (0.092)         (0.094)         (0.093)   {txt}
{txt}1994.dy1    {res}       -0.316***       -0.315***       -0.317***       -0.321***       -0.317***       -0.305***{txt}
            {res}      (0.114)         (0.114)         (0.112)         (0.112)         (0.114)         (0.113)   {txt}
{txt}1995.dy1    {res}       -0.710***       -0.712***       -0.712***       -0.710***       -0.706***       -0.692***{txt}
            {res}      (0.134)         (0.134)         (0.132)         (0.131)         (0.134)         (0.134)   {txt}
{txt}1996.dy1    {res}       -0.775***       -0.778***       -0.780***       -0.779***       -0.767***       -0.751***{txt}
            {res}      (0.173)         (0.173)         (0.172)         (0.171)         (0.174)         (0.174)   {txt}
{txt}1997.dy1    {res}       -0.835***       -0.838***       -0.843***       -0.847***       -0.852***       -0.841***{txt}
            {res}      (0.199)         (0.200)         (0.197)         (0.197)         (0.200)         (0.198)   {txt}
{txt}1998.dy1    {res}       -0.840***       -0.843***       -0.849***       -0.855***       -0.852***       -0.836***{txt}
            {res}      (0.217)         (0.218)         (0.216)         (0.216)         (0.219)         (0.218)   {txt}
{txt}polcon1     {res}                        2.283                           3.033                          -1.434   {txt}
            {res}                      (1.769)                         (1.975)                         (1.769)   {txt}
{txt}psg50dcon1_ {res}                                       -0.007          -0.285                                   {txt}
            {res}                                      (0.089)         (0.178)                                   {txt}
{txt}psg501BRR_  {res}                                       -0.018**        -0.018**                                 {txt}
            {res}                                      (0.009)         (0.009)                                   {txt}
{txt}h50con1_    {res}                                                                        0.133**         0.176*  {txt}
            {res}                                                                      (0.066)         (0.103)   {txt}
{txt}h501BRR_    {res}                                                                       -0.011*         -0.011*  {txt}
            {res}                                                                      (0.006)         (0.006)   {txt}
{txt}Constant    {res}        2.322***        2.281***        2.324***        2.309***        2.281***        2.272***{txt}
            {res}      (0.462)         (0.464)         (0.467)         (0.458)         (0.463)         (0.465)   {txt}
{txt}{hline 108}
{txt}r2          {res}        0.653           0.654           0.656           0.655           0.654           0.650   {txt}
{txt}N           {res}         3483            3483            3483            3483            3483            3483   {txt}
{txt}N_g         {res}          394             394             394             394             394             394   {txt}
{txt}vce         {res}                                                                                                {txt}
{txt}{hline 108}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ********************************************************************************
. **TABLES A4: Concentration in Marginal Districts and Tariff Protection
. ********************************************************************************
. d pivotalcon 

              {txt}storage   display    value
variable name   type    format     label      variable label
{hline}
{p 0 48}{res}{bind:pivotalcon     }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Concentration in marginal districts: See Table A4 for details{p_end}
{txt}
{com}. *Interaction Terms
. gen pivotalconBR_=pivotalcon*BRdisadv
{txt}(224 missing values generated)

{com}. gen pivotalconBRR_=pivotalcon*BRR
{txt}(232 missing values generated)

{com}. 
. xtpcse tfc_ BRdisadv pivotalcon geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6465
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}  2510.29
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0461078{col 26}{space 2} .0075762{col 37}{space 1}    6.09{col 46}{space 3}0.000{col 54}{space 4} .0312588{col 67}{space 3} .0609568
{txt}{space 2}pivotalcon {c |}{col 14}{res}{space 2} 8.185715{col 26}{space 2} 2.474478{col 37}{space 1}    3.31{col 46}{space 3}0.001{col 54}{space 4} 3.335828{col 67}{space 3}  13.0356
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0257673{col 26}{space 2} .0072019{col 37}{space 1}    3.58{col 46}{space 3}0.000{col 54}{space 4} .0116518{col 67}{space 3} .0398828
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.871196{col 26}{space 2} .6556715{col 37}{space 1}   -4.38{col 46}{space 3}0.000{col 54}{space 4}-4.156288{col 67}{space 3}-1.586103
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0302846{col 26}{space 2} .0098827{col 37}{space 1}   -3.06{col 46}{space 3}0.002{col 54}{space 4}-.0496543{col 67}{space 3} -.010915
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4486387{col 26}{space 2} .0793401{col 37}{space 1}    5.65{col 46}{space 3}0.000{col 54}{space 4} .2931349{col 67}{space 3} .6041424
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0235783{col 26}{space 2} .0396545{col 37}{space 1}    0.59{col 46}{space 3}0.552{col 54}{space 4}-.0541431{col 67}{space 3} .1012998
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1299682{col 26}{space 2} .0604715{col 37}{space 1}   -2.15{col 46}{space 3}0.032{col 54}{space 4}-.2484901{col 67}{space 3}-.0114463
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2006136{col 26}{space 2} .0879244{col 37}{space 1}   -2.28{col 46}{space 3}0.023{col 54}{space 4}-.3729422{col 67}{space 3} -.028285
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3599666{col 26}{space 2} .1097514{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-.5750754{col 67}{space 3}-.1448578
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8051169{col 26}{space 2} .1326295{col 37}{space 1}   -6.07{col 46}{space 3}0.000{col 54}{space 4}-1.065066{col 67}{space 3}-.5451679
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}   -.9135{col 26}{space 2} .1720991{col 37}{space 1}   -5.31{col 46}{space 3}0.000{col 54}{space 4}-1.250808{col 67}{space 3}-.5761921
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.026336{col 26}{space 2} .1978171{col 37}{space 1}   -5.19{col 46}{space 3}0.000{col 54}{space 4} -1.41405{col 67}{space 3}-.6386216
{txt}{space 7}1998  {c |}{col 14}{res}{space 2} -1.02498{col 26}{space 2} .2159273{col 37}{space 1}   -4.75{col 46}{space 3}0.000{col 54}{space 4} -1.44819{col 67}{space 3}-.6017701
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.315022{col 26}{space 2} .4286371{col 37}{space 1}    5.40{col 46}{space 3}0.000{col 54}{space 4} 1.474909{col 67}{space 3} 3.155135
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7199467{txt} {res} .7271677{txt} {res}-.1353643{txt} {res} .7290902{txt} {res}        1{txt} ... {res}  .657569
{txt}{hline 78}

{com}.  estimates store mA41   
{txt}
{com}. xtpcse tfc_ BRdisadv pivotalcon pivotalconBR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6421
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2222.48
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}Panel-corrected
{col 1}         tfc_{col 15}{c |}      Coef.{col 27}   Std. Err.{col 39}      z{col 47}   P>|z|{col 55}     [95% Con{col 68}f. Interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 5}BRdisadv {c |}{col 15}{res}{space 2}   .04643{col 27}{space 2} .0073538{col 38}{space 1}    6.31{col 47}{space 3}0.000{col 55}{space 4} .0320169{col 68}{space 3} .0608431
{txt}{space 3}pivotalcon {c |}{col 15}{res}{space 2} 7.720214{col 27}{space 2} 2.147228{col 38}{space 1}    3.60{col 47}{space 3}0.000{col 55}{space 4} 3.511724{col 68}{space 3}  11.9287
{txt}pivotalconBR_ {c |}{col 15}{res}{space 2}-.0089566{col 27}{space 2} .0761957{col 38}{space 1}   -0.12{col 47}{space 3}0.906{col 55}{space 4}-.1582975{col 68}{space 3} .1403843
{txt}{space 7}geocon {c |}{col 15}{res}{space 2} .0252061{col 27}{space 2} .0074199{col 38}{space 1}    3.40{col 47}{space 3}0.001{col 55}{space 4} .0106635{col 68}{space 3} .0397488
{txt}{space 7}indcon {c |}{col 15}{res}{space 2}-3.024438{col 27}{space 2} .6489755{col 38}{space 1}   -4.66{col 47}{space 3}0.000{col 55}{space 4}-4.296407{col 68}{space 3} -1.75247
{txt}{space 9}size {c |}{col 15}{res}{space 2}-.0335427{col 27}{space 2}  .010414{col 38}{space 1}   -3.22{col 47}{space 3}0.001{col 55}{space 4}-.0539537{col 68}{space 3}-.0131316
{txt}{space 8}ltfc_ {c |}{col 15}{res}{space 2} .4484071{col 27}{space 2} .0792303{col 38}{space 1}    5.66{col 47}{space 3}0.000{col 55}{space 4} .2931185{col 68}{space 3} .6036957
{txt}{space 13} {c |}
{space 10}dy1 {c |}
{space 8}1991  {c |}{col 15}{res}{space 2} .0222779{col 27}{space 2}  .040315{col 38}{space 1}    0.55{col 47}{space 3}0.581{col 55}{space 4} -.056738{col 68}{space 3} .1012938
{txt}{space 8}1992  {c |}{col 15}{res}{space 2} -.129956{col 27}{space 2} .0615291{col 38}{space 1}   -2.11{col 47}{space 3}0.035{col 55}{space 4}-.2505509{col 68}{space 3}-.0093611
{txt}{space 8}1993  {c |}{col 15}{res}{space 2}-.2026513{col 27}{space 2} .0887189{col 38}{space 1}   -2.28{col 47}{space 3}0.022{col 55}{space 4}-.3765372{col 68}{space 3}-.0287654
{txt}{space 8}1994  {c |}{col 15}{res}{space 2}-.3604656{col 27}{space 2} .1106355{col 38}{space 1}   -3.26{col 47}{space 3}0.001{col 55}{space 4}-.5773072{col 68}{space 3}-.1436239
{txt}{space 8}1995  {c |}{col 15}{res}{space 2} -.802279{col 27}{space 2} .1329456{col 38}{space 1}   -6.03{col 47}{space 3}0.000{col 55}{space 4}-1.062848{col 68}{space 3}-.5417104
{txt}{space 8}1996  {c |}{col 15}{res}{space 2}-.9048431{col 27}{space 2} .1720393{col 38}{space 1}   -5.26{col 47}{space 3}0.000{col 55}{space 4}-1.242034{col 68}{space 3}-.5676522
{txt}{space 8}1997  {c |}{col 15}{res}{space 2}-1.013939{col 27}{space 2} .1970063{col 38}{space 1}   -5.15{col 47}{space 3}0.000{col 55}{space 4}-1.400064{col 68}{space 3}-.6278136
{txt}{space 8}1998  {c |}{col 15}{res}{space 2} -1.01378{col 27}{space 2} .2146495{col 38}{space 1}   -4.72{col 47}{space 3}0.000{col 55}{space 4}-1.434485{col 68}{space 3}-.5930743
{txt}{space 13} {c |}
{space 8}_cons {c |}{col 15}{res}{space 2}  2.35041{col 27}{space 2} .4256616{col 38}{space 1}    5.52{col 47}{space 3}0.000{col 55}{space 4} 1.516129{col 68}{space 3} 3.184692
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         rhos = {res}  .719611{txt} {res} .7439836{txt} {res}-.1321477{txt} {res}  .681228{txt} {res}        1{txt} ... {res} .6485743
{txt}{hline 79}

{com}.  estimates store mA42   
{txt}
{com}. xtpcse tfc_ BRR pivotalcon geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6569
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}  1332.29
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} .0039786{col 26}{space 2} .0023121{col 37}{space 1}    1.72{col 46}{space 3}0.085{col 54}{space 4}-.0005531{col 67}{space 3} .0085103
{txt}{space 2}pivotalcon {c |}{col 14}{res}{space 2} 6.720165{col 26}{space 2}  2.03319{col 37}{space 1}    3.31{col 46}{space 3}0.001{col 54}{space 4} 2.735186{col 67}{space 3} 10.70514
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0176868{col 26}{space 2}  .007692{col 37}{space 1}    2.30{col 46}{space 3}0.021{col 54}{space 4} .0026108{col 67}{space 3} .0327629
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.071663{col 26}{space 2} .6102446{col 37}{space 1}   -5.03{col 46}{space 3}0.000{col 54}{space 4} -4.26772{col 67}{space 3}-1.875605
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0373294{col 26}{space 2} .0089017{col 37}{space 1}   -4.19{col 46}{space 3}0.000{col 54}{space 4}-.0547763{col 67}{space 3}-.0198824
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4938318{col 26}{space 2} .0821537{col 37}{space 1}    6.01{col 46}{space 3}0.000{col 54}{space 4} .3328136{col 67}{space 3}   .65485
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0068256{col 26}{space 2} .0468549{col 37}{space 1}    0.15{col 46}{space 3}0.884{col 54}{space 4}-.0850083{col 67}{space 3} .0986595
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1682534{col 26}{space 2} .0714215{col 37}{space 1}   -2.36{col 46}{space 3}0.018{col 54}{space 4} -.308237{col 67}{space 3}-.0282699
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1994154{col 26}{space 2} .0977761{col 37}{space 1}   -2.04{col 46}{space 3}0.041{col 54}{space 4} -.391053{col 67}{space 3}-.0077779
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3234502{col 26}{space 2} .1177911{col 37}{space 1}   -2.75{col 46}{space 3}0.006{col 54}{space 4}-.5543165{col 67}{space 3} -.092584
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7151485{col 26}{space 2} .1382196{col 37}{space 1}   -5.17{col 46}{space 3}0.000{col 54}{space 4}-.9860539{col 67}{space 3}-.4442431
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.7853628{col 26}{space 2} .1776185{col 37}{space 1}   -4.42{col 46}{space 3}0.000{col 54}{space 4}-1.133489{col 67}{space 3}-.4372371
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.8486817{col 26}{space 2} .2029287{col 37}{space 1}   -4.18{col 46}{space 3}0.000{col 54}{space 4}-1.246415{col 67}{space 3}-.4509487
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8659001{col 26}{space 2} .2213747{col 37}{space 1}   -3.91{col 46}{space 3}0.000{col 54}{space 4}-1.299786{col 67}{space 3}-.4320137
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}   2.3232{col 26}{space 2} .4623446{col 37}{space 1}    5.02{col 46}{space 3}0.000{col 54}{space 4} 1.417021{col 67}{space 3} 3.229378
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7484517{txt} {res} .6169461{txt} {res}-.0959403{txt} {res} .3960919{txt} {res}        1{txt} ... {res} .7549443
{txt}{hline 78}

{com}.  estimates store mA43   
{txt}
{com}. xtpcse tfc_ BRR pivotalcon pivotalconBRR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6547
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  1345.82
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}Panel-corrected
{col 1}          tfc_{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 11}BRR {c |}{col 16}{res}{space 2} .0090565{col 28}{space 2} .0065744{col 39}{space 1}    1.38{col 48}{space 3}0.168{col 56}{space 4}-.0038291{col 69}{space 3} .0219421
{txt}{space 4}pivotalcon {c |}{col 16}{res}{space 2} 7.606823{col 28}{space 2} 2.252699{col 39}{space 1}    3.38{col 48}{space 3}0.001{col 56}{space 4} 3.191614{col 69}{space 3} 12.02203
{txt}pivotalconBRR_ {c |}{col 16}{res}{space 2}-.2020853{col 28}{space 2} .1338116{col 39}{space 1}   -1.51{col 48}{space 3}0.131{col 56}{space 4}-.4643512{col 69}{space 3} .0601805
{txt}{space 8}geocon {c |}{col 16}{res}{space 2}  .016836{col 28}{space 2} .0076207{col 39}{space 1}    2.21{col 48}{space 3}0.027{col 56}{space 4} .0018997{col 69}{space 3} .0317723
{txt}{space 8}indcon {c |}{col 16}{res}{space 2}-3.019264{col 28}{space 2}  .606641{col 39}{space 1}   -4.98{col 48}{space 3}0.000{col 56}{space 4}-4.208259{col 69}{space 3} -1.83027
{txt}{space 10}size {c |}{col 16}{res}{space 2} -.036446{col 28}{space 2} .0086695{col 39}{space 1}   -4.20{col 48}{space 3}0.000{col 56}{space 4}-.0534379{col 69}{space 3}-.0194542
{txt}{space 9}ltfc_ {c |}{col 16}{res}{space 2} .4941437{col 28}{space 2} .0818161{col 39}{space 1}    6.04{col 48}{space 3}0.000{col 56}{space 4}  .333787{col 69}{space 3} .6545004
{txt}{space 14} {c |}
{space 11}dy1 {c |}
{space 9}1991  {c |}{col 16}{res}{space 2} .0115134{col 28}{space 2} .0467928{col 39}{space 1}    0.25{col 48}{space 3}0.806{col 56}{space 4}-.0801988{col 69}{space 3} .1032255
{txt}{space 9}1992  {c |}{col 16}{res}{space 2} -.163271{col 28}{space 2} .0714365{col 39}{space 1}   -2.29{col 48}{space 3}0.022{col 56}{space 4}-.3032841{col 69}{space 3} -.023258
{txt}{space 9}1993  {c |}{col 16}{res}{space 2}-.1906042{col 28}{space 2} .0981818{col 39}{space 1}   -1.94{col 48}{space 3}0.052{col 56}{space 4}-.3830371{col 69}{space 3} .0018286
{txt}{space 9}1994  {c |}{col 16}{res}{space 2}-.3142816{col 28}{space 2} .1182274{col 39}{space 1}   -2.66{col 48}{space 3}0.008{col 56}{space 4}-.5460031{col 69}{space 3}-.0825601
{txt}{space 9}1995  {c |}{col 16}{res}{space 2}-.7019797{col 28}{space 2} .1388052{col 39}{space 1}   -5.06{col 48}{space 3}0.000{col 56}{space 4} -.974033{col 69}{space 3}-.4299265
{txt}{space 9}1996  {c |}{col 16}{res}{space 2}-.7687798{col 28}{space 2} .1780033{col 39}{space 1}   -4.32{col 48}{space 3}0.000{col 56}{space 4} -1.11766{col 69}{space 3}-.4198997
{txt}{space 9}1997  {c |}{col 16}{res}{space 2}-.8388178{col 28}{space 2} .2025429{col 39}{space 1}   -4.14{col 48}{space 3}0.000{col 56}{space 4}-1.235795{col 69}{space 3}-.4418409
{txt}{space 9}1998  {c |}{col 16}{res}{space 2}-.8488599{col 28}{space 2} .2210174{col 39}{space 1}   -3.84{col 48}{space 3}0.000{col 56}{space 4}-1.282046{col 69}{space 3}-.4156738
{txt}{space 14} {c |}
{space 9}_cons {c |}{col 16}{res}{space 2} 2.285959{col 28}{space 2} .4618135{col 39}{space 1}    4.95{col 48}{space 3}0.000{col 56}{space 4} 1.380821{col 69}{space 3} 3.191096
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          rhos = {res} .7412228{txt} {res} .6329094{txt} {res}-.1006429{txt} {res} .3929539{txt} {res}        1{txt} ... {res} .7516132
{txt}{hline 80}

{com}.  estimates store mA44
{txt}
{com}. xtpcse tfd_ BRdisadv pivotalcon geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3347
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}   119.60
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0690553{col 26}{space 2} .0146671{col 37}{space 1}    4.71{col 46}{space 3}0.000{col 54}{space 4} .0403083{col 67}{space 3} .0978022
{txt}{space 2}pivotalcon {c |}{col 14}{res}{space 2} 3.648832{col 26}{space 2} 2.478216{col 37}{space 1}    1.47{col 46}{space 3}0.141{col 54}{space 4}-1.208383{col 67}{space 3} 8.506046
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}  .007821{col 26}{space 2} .0115403{col 37}{space 1}    0.68{col 46}{space 3}0.498{col 54}{space 4}-.0147977{col 67}{space 3} .0304396
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.543672{col 26}{space 2} 1.303385{col 37}{space 1}   -2.72{col 46}{space 3}0.007{col 54}{space 4} -6.09826{col 67}{space 3}-.9890851
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0189839{col 26}{space 2} .0279849{col 37}{space 1}   -0.68{col 46}{space 3}0.498{col 54}{space 4}-.0738333{col 67}{space 3} .0358655
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0046288{col 26}{space 2} .0019371{col 37}{space 1}    2.39{col 46}{space 3}0.017{col 54}{space 4} .0008322{col 67}{space 3} .0084254
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1380136{col 26}{space 2} .0666104{col 37}{space 1}   -2.07{col 46}{space 3}0.038{col 54}{space 4}-.2685676{col 67}{space 3}-.0074595
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} -.220824{col 26}{space 2} .1297724{col 37}{space 1}   -1.70{col 46}{space 3}0.089{col 54}{space 4}-.4751733{col 67}{space 3} .0335253
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1168054{col 26}{space 2}   .17504{col 37}{space 1}   -0.67{col 46}{space 3}0.505{col 54}{space 4}-.4598775{col 67}{space 3} .2262667
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2912338{col 26}{space 2} .2120187{col 37}{space 1}   -1.37{col 46}{space 3}0.170{col 54}{space 4}-.7067828{col 67}{space 3} .1243153
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6023518{col 26}{space 2} .2420563{col 37}{space 1}   -2.49{col 46}{space 3}0.013{col 54}{space 4}-1.076773{col 67}{space 3}-.1279301
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -1.02037{col 26}{space 2} .2666378{col 37}{space 1}   -3.83{col 46}{space 3}0.000{col 54}{space 4} -1.54297{col 67}{space 3}-.4977691
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.318182{col 26}{space 2} .2833139{col 37}{space 1}   -4.65{col 46}{space 3}0.000{col 54}{space 4}-1.873467{col 67}{space 3} -.762897
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9174962{col 26}{space 2} .2900651{col 37}{space 1}   -3.16{col 46}{space 3}0.002{col 54}{space 4}-1.486013{col 67}{space 3} -.348979
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.763822{col 26}{space 2} .3020726{col 37}{space 1}   19.08{col 46}{space 3}0.000{col 54}{space 4}  5.17177{col 67}{space 3} 6.355873
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8813363{txt} {res} .9545156{txt} {res} .5885097{txt} {res}        1{txt} {res}        1{txt} ... {res} .5558507
{txt}{hline 78}

{com}.  estimates store mA45
{txt}
{com}. xtpcse tfd_ BRdisadv pivotalcon pivotalconBR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3483
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   127.69
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}Panel-corrected
{col 1}         tfd_{col 15}{c |}      Coef.{col 27}   Std. Err.{col 39}      z{col 47}   P>|z|{col 55}     [95% Con{col 68}f. Interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 5}BRdisadv {c |}{col 15}{res}{space 2} .0703716{col 27}{space 2} .0143599{col 38}{space 1}    4.90{col 47}{space 3}0.000{col 55}{space 4} .0422268{col 68}{space 3} .0985165
{txt}{space 3}pivotalcon {c |}{col 15}{res}{space 2}  4.29397{col 27}{space 2}  2.14104{col 38}{space 1}    2.01{col 47}{space 3}0.045{col 55}{space 4} .0976082{col 68}{space 3} 8.490331
{txt}pivotalconBR_ {c |}{col 15}{res}{space 2}-.1894555{col 27}{space 2} .1584189{col 38}{space 1}   -1.20{col 47}{space 3}0.232{col 55}{space 4}-.4999507{col 68}{space 3} .1210398
{txt}{space 7}geocon {c |}{col 15}{res}{space 2} .0098651{col 27}{space 2} .0130664{col 38}{space 1}    0.75{col 47}{space 3}0.450{col 55}{space 4}-.0157446{col 68}{space 3} .0354748
{txt}{space 7}indcon {c |}{col 15}{res}{space 2}-4.326315{col 27}{space 2} 1.257682{col 38}{space 1}   -3.44{col 47}{space 3}0.001{col 55}{space 4}-6.791326{col 68}{space 3}-1.861304
{txt}{space 9}size {c |}{col 15}{res}{space 2}-.0263899{col 27}{space 2} .0293935{col 38}{space 1}   -0.90{col 47}{space 3}0.369{col 55}{space 4}-.0840001{col 68}{space 3} .0312203
{txt}{space 8}ltfd_ {c |}{col 15}{res}{space 2}  .004616{col 27}{space 2}  .001928{col 38}{space 1}    2.39{col 47}{space 3}0.017{col 55}{space 4} .0008372{col 68}{space 3} .0083948
{txt}{space 13} {c |}
{space 10}dy1 {c |}
{space 8}1991  {c |}{col 15}{res}{space 2}-.1325917{col 27}{space 2} .0633291{col 38}{space 1}   -2.09{col 47}{space 3}0.036{col 55}{space 4}-.2567144{col 68}{space 3} -.008469
{txt}{space 8}1992  {c |}{col 15}{res}{space 2}-.2115548{col 27}{space 2} .1246758{col 38}{space 1}   -1.70{col 47}{space 3}0.090{col 55}{space 4}-.4559149{col 68}{space 3} .0328053
{txt}{space 8}1993  {c |}{col 15}{res}{space 2}-.1030666{col 27}{space 2} .1685709{col 38}{space 1}   -0.61{col 47}{space 3}0.541{col 55}{space 4}-.4334595{col 68}{space 3} .2273262
{txt}{space 8}1994  {c |}{col 15}{res}{space 2}-.2697433{col 27}{space 2} .2046369{col 38}{space 1}   -1.32{col 47}{space 3}0.187{col 55}{space 4}-.6708243{col 68}{space 3} .1313377
{txt}{space 8}1995  {c |}{col 15}{res}{space 2}-.5780705{col 27}{space 2} .2344565{col 38}{space 1}   -2.47{col 47}{space 3}0.014{col 55}{space 4}-1.037597{col 68}{space 3}-.1185442
{txt}{space 8}1996  {c |}{col 15}{res}{space 2}-.9925133{col 27}{space 2} .2587997{col 38}{space 1}   -3.84{col 47}{space 3}0.000{col 55}{space 4}-1.499751{col 68}{space 3}-.4852751
{txt}{space 8}1997  {c |}{col 15}{res}{space 2}-1.293517{col 27}{space 2} .2754293{col 38}{space 1}   -4.70{col 47}{space 3}0.000{col 55}{space 4}-1.833348{col 68}{space 3}-.7536853
{txt}{space 8}1998  {c |}{col 15}{res}{space 2} -.887702{col 27}{space 2} .2815595{col 38}{space 1}   -3.15{col 47}{space 3}0.002{col 55}{space 4}-1.439548{col 68}{space 3}-.3358556
{txt}{space 13} {c |}
{space 8}_cons {c |}{col 15}{res}{space 2} 5.904599{col 27}{space 2} .2864617{col 38}{space 1}   20.61{col 47}{space 3}0.000{col 55}{space 4} 5.343144{col 68}{space 3} 6.466054
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         rhos = {res} .8762607{txt} {res} .9504873{txt} {res} .6328658{txt} {res}        1{txt} {res}        1{txt} ... {res} .5529661
{txt}{hline 79}

{com}.  estimates store mA46
{txt}
{com}. xtpcse tfd_ BRR pivotalcon geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3572
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}    70.68
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}BRR {c |}{col 14}{res}{space 2} -.002011{col 26}{space 2} .0022416{col 37}{space 1}   -0.90{col 46}{space 3}0.370{col 54}{space 4}-.0064044{col 67}{space 3} .0023825
{txt}{space 2}pivotalcon {c |}{col 14}{res}{space 2} 3.514135{col 26}{space 2} 2.942842{col 37}{space 1}    1.19{col 46}{space 3}0.232{col 54}{space 4} -2.25373{col 67}{space 3} 9.281999
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0104895{col 26}{space 2}  .013215{col 37}{space 1}    0.79{col 46}{space 3}0.427{col 54}{space 4}-.0154115{col 67}{space 3} .0363905
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.974191{col 26}{space 2}  1.40698{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4}-5.731822{col 67}{space 3}-.2165603
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0728279{col 26}{space 2} .0231173{col 37}{space 1}   -3.15{col 46}{space 3}0.002{col 54}{space 4} -.118137{col 67}{space 3}-.0275188
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0044384{col 26}{space 2} .0019771{col 37}{space 1}    2.24{col 46}{space 3}0.025{col 54}{space 4} .0005633{col 67}{space 3} .0083134
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1908231{col 26}{space 2}  .079446{col 37}{space 1}   -2.40{col 46}{space 3}0.016{col 54}{space 4}-.3465345{col 67}{space 3}-.0351118
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.3596743{col 26}{space 2} .1516346{col 37}{space 1}   -2.37{col 46}{space 3}0.018{col 54}{space 4}-.6568726{col 67}{space 3} -.062476
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2242857{col 26}{space 2} .2122192{col 37}{space 1}   -1.06{col 46}{space 3}0.291{col 54}{space 4}-.6402276{col 67}{space 3} .1916563
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3651879{col 26}{space 2} .2682476{col 37}{space 1}   -1.36{col 46}{space 3}0.173{col 54}{space 4}-.8909434{col 67}{space 3} .1605677
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6235216{col 26}{space 2} .3169844{col 37}{space 1}   -1.97{col 46}{space 3}0.049{col 54}{space 4}  -1.2448{col 67}{space 3}-.0022437
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.004944{col 26}{space 2}  .359713{col 37}{space 1}   -2.79{col 46}{space 3}0.005{col 54}{space 4}-1.709968{col 67}{space 3}-.2999193
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.253614{col 26}{space 2} .3896808{col 37}{space 1}   -3.22{col 46}{space 3}0.001{col 54}{space 4}-2.017374{col 67}{space 3}-.4898534
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.8802746{col 26}{space 2}  .402418{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-1.668999{col 67}{space 3}-.0915498
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 6.571877{col 26}{space 2} .4880792{col 37}{space 1}   13.46{col 46}{space 3}0.000{col 54}{space 4}  5.61526{col 67}{space 3} 7.528495
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .9197458{txt} {res} .9463344{txt} {res} .1554144{txt} {res}        1{txt} {res}        1{txt} ... {res} .8589987
{txt}{hline 78}

{com}.  estimates store mA47           
{txt}
{com}. xtpcse tfd_ BRR pivotalcon pivotalconBRR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3658
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}    78.23
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}Panel-corrected
{col 1}          tfd_{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 11}BRR {c |}{col 16}{res}{space 2} .0061272{col 28}{space 2} .0109948{col 39}{space 1}    0.56{col 48}{space 3}0.577{col 56}{space 4}-.0154223{col 69}{space 3} .0276766
{txt}{space 4}pivotalcon {c |}{col 16}{res}{space 2} 4.415082{col 28}{space 2} 2.991335{col 39}{space 1}    1.48{col 48}{space 3}0.140{col 56}{space 4}-1.447826{col 69}{space 3} 10.27799
{txt}pivotalconBRR_ {c |}{col 16}{res}{space 2}-.3555182{col 28}{space 2} .3276842{col 39}{space 1}   -1.08{col 48}{space 3}0.278{col 56}{space 4}-.9977674{col 69}{space 3} .2867311
{txt}{space 8}geocon {c |}{col 16}{res}{space 2} .0063361{col 28}{space 2} .0126589{col 39}{space 1}    0.50{col 48}{space 3}0.617{col 56}{space 4}-.0184748{col 69}{space 3} .0311471
{txt}{space 8}indcon {c |}{col 16}{res}{space 2}-3.016608{col 28}{space 2} 1.360312{col 39}{space 1}   -2.22{col 48}{space 3}0.027{col 56}{space 4} -5.68277{col 69}{space 3} -.350446
{txt}{space 10}size {c |}{col 16}{res}{space 2}-.0746055{col 28}{space 2} .0219608{col 39}{space 1}   -3.40{col 48}{space 3}0.001{col 56}{space 4}-.1176479{col 69}{space 3} -.031563
{txt}{space 9}ltfd_ {c |}{col 16}{res}{space 2} .0045241{col 28}{space 2} .0020009{col 39}{space 1}    2.26{col 48}{space 3}0.024{col 56}{space 4} .0006025{col 69}{space 3} .0084458
{txt}{space 14} {c |}
{space 11}dy1 {c |}
{space 9}1991  {c |}{col 16}{res}{space 2}-.1859646{col 28}{space 2} .0815431{col 39}{space 1}   -2.28{col 48}{space 3}0.023{col 56}{space 4} -.345786{col 69}{space 3}-.0261431
{txt}{space 9}1992  {c |}{col 16}{res}{space 2} -.352826{col 28}{space 2} .1509221{col 39}{space 1}   -2.34{col 48}{space 3}0.019{col 56}{space 4}-.6486279{col 69}{space 3} -.057024
{txt}{space 9}1993  {c |}{col 16}{res}{space 2}-.2131922{col 28}{space 2}  .209743{col 39}{space 1}   -1.02{col 48}{space 3}0.309{col 56}{space 4}-.6242808{col 69}{space 3} .1978965
{txt}{space 9}1994  {c |}{col 16}{res}{space 2}-.3512369{col 28}{space 2} .2649406{col 39}{space 1}   -1.33{col 48}{space 3}0.185{col 56}{space 4}-.8705109{col 69}{space 3} .1680371
{txt}{space 9}1995  {c |}{col 16}{res}{space 2}-.6087918{col 28}{space 2} .3144004{col 39}{space 1}   -1.94{col 48}{space 3}0.053{col 56}{space 4}-1.225005{col 69}{space 3} .0074217
{txt}{space 9}1996  {c |}{col 16}{res}{space 2}-.9866792{col 28}{space 2} .3566307{col 39}{space 1}   -2.77{col 48}{space 3}0.006{col 56}{space 4}-1.685663{col 69}{space 3}-.2876958
{txt}{space 9}1997  {c |}{col 16}{res}{space 2}-1.233493{col 28}{space 2} .3853171{col 39}{space 1}   -3.20{col 48}{space 3}0.001{col 56}{space 4}  -1.9887{col 69}{space 3} -.478285
{txt}{space 9}1998  {c |}{col 16}{res}{space 2}-.8514042{col 28}{space 2} .3950021{col 39}{space 1}   -2.16{col 48}{space 3}0.031{col 56}{space 4}-1.625594{col 69}{space 3}-.0772143
{txt}{space 14} {c |}
{space 9}_cons {c |}{col 16}{res}{space 2} 6.562679{col 28}{space 2} .4472563{col 39}{space 1}   14.67{col 48}{space 3}0.000{col 56}{space 4} 5.686073{col 69}{space 3} 7.439285
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          rhos = {res} .9186862{txt} {res} .9483008{txt} {res} .2376387{txt} {res}        1{txt} {res}        1{txt} ... {res}  .852867
{txt}{hline 80}

{com}.  estimates store mA48   
{txt}
{com}. estout mA41 mA42 mA43 mA44 mA45 mA46 mA47 mA48, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2 N N_g, fmt(3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 140}
{txt}                     mA41            mA42            mA43            mA44            mA45            mA46            mA47            mA48   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 140}
{txt}BRdisadv    {res}        0.046***        0.046***                                        0.069***        0.070***                                {txt}
            {res}      (0.008)         (0.007)                                         (0.015)         (0.014)                                   {txt}
{txt}pivotalcon  {res}        8.186***        7.720***        6.720***        7.607***        3.649           4.294**         3.514           4.415   {txt}
            {res}      (2.474)         (2.147)         (2.033)         (2.253)         (2.478)         (2.141)         (2.943)         (2.991)   {txt}
{txt}geocon      {res}        0.026***        0.025***        0.018**         0.017**         0.008           0.010           0.010           0.006   {txt}
            {res}      (0.007)         (0.007)         (0.008)         (0.008)         (0.012)         (0.013)         (0.013)         (0.013)   {txt}
{txt}indcon      {res}       -2.871***       -3.024***       -3.072***       -3.019***       -3.544***       -4.326***       -2.974**        -3.017** {txt}
            {res}      (0.656)         (0.649)         (0.610)         (0.607)         (1.303)         (1.258)         (1.407)         (1.360)   {txt}
{txt}size        {res}       -0.030***       -0.034***       -0.037***       -0.036***       -0.019          -0.026          -0.073***       -0.075***{txt}
            {res}      (0.010)         (0.010)         (0.009)         (0.009)         (0.028)         (0.029)         (0.023)         (0.022)   {txt}
{txt}ltfc_       {res}        0.449***        0.448***        0.494***        0.494***                                                                {txt}
            {res}      (0.079)         (0.079)         (0.082)         (0.082)                                                                   {txt}
{txt}1990.dy1    {res}        0.000           0.000           0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1991.dy1    {res}        0.024           0.022           0.007           0.012          -0.138**        -0.133**        -0.191**        -0.186** {txt}
            {res}      (0.040)         (0.040)         (0.047)         (0.047)         (0.067)         (0.063)         (0.079)         (0.082)   {txt}
{txt}1992.dy1    {res}       -0.130**        -0.130**        -0.168**        -0.163**        -0.221*         -0.212*         -0.360**        -0.353** {txt}
            {res}      (0.060)         (0.062)         (0.071)         (0.071)         (0.130)         (0.125)         (0.152)         (0.151)   {txt}
{txt}1993.dy1    {res}       -0.201**        -0.203**        -0.199**        -0.191*         -0.117          -0.103          -0.224          -0.213   {txt}
            {res}      (0.088)         (0.089)         (0.098)         (0.098)         (0.175)         (0.169)         (0.212)         (0.210)   {txt}
{txt}1994.dy1    {res}       -0.360***       -0.360***       -0.323***       -0.314***       -0.291          -0.270          -0.365          -0.351   {txt}
            {res}      (0.110)         (0.111)         (0.118)         (0.118)         (0.212)         (0.205)         (0.268)         (0.265)   {txt}
{txt}1995.dy1    {res}       -0.805***       -0.802***       -0.715***       -0.702***       -0.602**        -0.578**        -0.624**        -0.609*  {txt}
            {res}      (0.133)         (0.133)         (0.138)         (0.139)         (0.242)         (0.234)         (0.317)         (0.314)   {txt}
{txt}1996.dy1    {res}       -0.914***       -0.905***       -0.785***       -0.769***       -1.020***       -0.993***       -1.005***       -0.987***{txt}
            {res}      (0.172)         (0.172)         (0.178)         (0.178)         (0.267)         (0.259)         (0.360)         (0.357)   {txt}
{txt}1997.dy1    {res}       -1.026***       -1.014***       -0.849***       -0.839***       -1.318***       -1.294***       -1.254***       -1.233***{txt}
            {res}      (0.198)         (0.197)         (0.203)         (0.203)         (0.283)         (0.275)         (0.390)         (0.385)   {txt}
{txt}1998.dy1    {res}       -1.025***       -1.014***       -0.866***       -0.849***       -0.917***       -0.888***       -0.880**        -0.851** {txt}
            {res}      (0.216)         (0.215)         (0.221)         (0.221)         (0.290)         (0.282)         (0.402)         (0.395)   {txt}
{txt}pivotalc~BR_{res}                       -0.009                                                          -0.189                                   {txt}
            {res}                      (0.076)                                                         (0.158)                                   {txt}
{txt}BRR         {res}                                        0.004*          0.009                                          -0.002           0.006   {txt}
            {res}                                      (0.002)         (0.007)                                         (0.002)         (0.011)   {txt}
{txt}pivotalc~RR_{res}                                                       -0.202                                                          -0.356   {txt}
            {res}                                                      (0.134)                                                         (0.328)   {txt}
{txt}ltfd_       {res}                                                                        0.005**         0.005**         0.004**         0.005** {txt}
            {res}                                                                      (0.002)         (0.002)         (0.002)         (0.002)   {txt}
{txt}Constant    {res}        2.315***        2.350***        2.323***        2.286***        5.764***        5.905***        6.572***        6.563***{txt}
            {res}      (0.429)         (0.426)         (0.462)         (0.462)         (0.302)         (0.286)         (0.488)         (0.447)   {txt}
{txt}{hline 140}
{txt}r2          {res}        0.646           0.642           0.657           0.655           0.335           0.348           0.357           0.366   {txt}
{txt}N           {res}         3483            3483            3483            3483            3380            3380            3380            3380   {txt}
{txt}N_g         {res}          394             394             394             394             387             387             387             387   {txt}
{txt}{hline 140}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ********************************************************************************
. *Table A5: Concentration in Safe Districts and Tariff Protection
. ********************************************************************************
. d safecon safe4gcon safe4con

              {txt}storage   display    value
variable name   type    format     label      variable label
{hline}
{p 0 48}{res}{bind:safecon        }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Concentration in safe districts: See Table A5 for details {p_end}
{p 0 48}{bind:safe4gcon      }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Concentration in safe districts(PSG): See Table A5 for details {p_end}
{p 0 48}{bind:safe4con       }{txt}{bind: float   }{bind:{txt}%9.0g     }{space 1}{bind:         }{bind:  }{res}{res}Concentration in safe districts(PS): See Table A5 for details {p_end}
{txt}
{com}. *Interaction Terms
. gen safeconBR_=safecon*BRdisadv
{txt}(224 missing values generated)

{com}. gen safe4gconBR_=safe4gcon*BRdisadv
{txt}(224 missing values generated)

{com}. gen safe4conBR_=safe4con*BRdisadv
{txt}(224 missing values generated)

{com}. 
. xtpcse tfc_ BRdisadv safecon safeconBR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6406
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2730.32
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0487488{col 26}{space 2}  .008487{col 37}{space 1}    5.74{col 46}{space 3}0.000{col 54}{space 4} .0321147{col 67}{space 3} .0653829
{txt}{space 5}safecon {c |}{col 14}{res}{space 2} .7344517{col 26}{space 2} 1.304514{col 37}{space 1}    0.56{col 46}{space 3}0.573{col 54}{space 4}-1.822349{col 67}{space 3} 3.291252
{txt}{space 2}safeconBR_ {c |}{col 14}{res}{space 2}-.1386115{col 26}{space 2} .1180255{col 37}{space 1}   -1.17{col 46}{space 3}0.240{col 54}{space 4}-.3699371{col 67}{space 3} .0927142
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}  .026784{col 26}{space 2} .0072273{col 37}{space 1}    3.71{col 46}{space 3}0.000{col 54}{space 4} .0126187{col 67}{space 3} .0409494
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -2.24426{col 26}{space 2}    .5065{col 37}{space 1}   -4.43{col 46}{space 3}0.000{col 54}{space 4}-3.236982{col 67}{space 3}-1.251539
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0350943{col 26}{space 2} .0094626{col 37}{space 1}   -3.71{col 46}{space 3}0.000{col 54}{space 4}-.0536408{col 67}{space 3}-.0165479
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4499335{col 26}{space 2} .0808614{col 37}{space 1}    5.56{col 46}{space 3}0.000{col 54}{space 4} .2914481{col 67}{space 3} .6084189
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0204385{col 26}{space 2} .0399939{col 37}{space 1}    0.51{col 46}{space 3}0.609{col 54}{space 4} -.057948{col 67}{space 3} .0988251
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1308919{col 26}{space 2}  .059997{col 37}{space 1}   -2.18{col 46}{space 3}0.029{col 54}{space 4}-.2484839{col 67}{space 3}-.0132999
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2077427{col 26}{space 2} .0872757{col 37}{space 1}   -2.38{col 46}{space 3}0.017{col 54}{space 4}-.3787999{col 67}{space 3}-.0366856
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3686908{col 26}{space 2}  .109759{col 37}{space 1}   -3.36{col 46}{space 3}0.001{col 54}{space 4}-.5838145{col 67}{space 3}-.1535671
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8133375{col 26}{space 2} .1324256{col 37}{space 1}   -6.14{col 46}{space 3}0.000{col 54}{space 4}-1.072887{col 67}{space 3}-.5537882
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9189714{col 26}{space 2} .1734118{col 37}{space 1}   -5.30{col 46}{space 3}0.000{col 54}{space 4}-1.258852{col 67}{space 3}-.5790904
{txt}{space 7}1997  {c |}{col 14}{res}{space 2} -1.03603{col 26}{space 2}  .201016{col 37}{space 1}   -5.15{col 46}{space 3}0.000{col 54}{space 4}-1.430014{col 67}{space 3}-.6420464
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.025724{col 26}{space 2} .2200482{col 37}{space 1}   -4.66{col 46}{space 3}0.000{col 54}{space 4}-1.457011{col 67}{space 3}-.5944376
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.381907{col 26}{space 2} .4316235{col 37}{space 1}    5.52{col 46}{space 3}0.000{col 54}{space 4}  1.53594{col 67}{space 3} 3.227873
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7157796{txt} {res} .7344608{txt} {res}-.1412858{txt} {res} .7471302{txt} {res}        1{txt} ... {res} .6468013
{txt}{hline 78}

{com}.  estimates store mA51
{txt}
{com}. xtpcse tfc_ BRdisadv safe4con safe4conBR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6462
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2889.13
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0492968{col 26}{space 2} .0080953{col 37}{space 1}    6.09{col 46}{space 3}0.000{col 54}{space 4} .0334302{col 67}{space 3} .0651634
{txt}{space 4}safe4con {c |}{col 14}{res}{space 2}-1.032788{col 26}{space 2} 1.014525{col 37}{space 1}   -1.02{col 46}{space 3}0.309{col 54}{space 4} -3.02122{col 67}{space 3} .9556444
{txt}{space 1}safe4conBR_ {c |}{col 14}{res}{space 2}-.1802941{col 26}{space 2} .0983726{col 37}{space 1}   -1.83{col 46}{space 3}0.067{col 54}{space 4}-.3731009{col 67}{space 3} .0125126
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0297202{col 26}{space 2} .0079973{col 37}{space 1}    3.72{col 46}{space 3}0.000{col 54}{space 4} .0140457{col 67}{space 3} .0453947
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -2.29539{col 26}{space 2} .5278417{col 37}{space 1}   -4.35{col 46}{space 3}0.000{col 54}{space 4} -3.32994{col 67}{space 3}-1.260839
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0358776{col 26}{space 2} .0096714{col 37}{space 1}   -3.71{col 46}{space 3}0.000{col 54}{space 4}-.0548332{col 67}{space 3}-.0169221
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4525477{col 26}{space 2} .0804169{col 37}{space 1}    5.63{col 46}{space 3}0.000{col 54}{space 4} .2949335{col 67}{space 3} .6101619
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0277236{col 26}{space 2} .0367921{col 37}{space 1}    0.75{col 46}{space 3}0.451{col 54}{space 4}-.0443877{col 67}{space 3} .0998349
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1239071{col 26}{space 2} .0563777{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-.2344054{col 67}{space 3}-.0134088
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} -.206273{col 26}{space 2} .0828202{col 37}{space 1}   -2.49{col 46}{space 3}0.013{col 54}{space 4}-.3685976{col 67}{space 3}-.0439483
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3581876{col 26}{space 2} .1048344{col 37}{space 1}   -3.42{col 46}{space 3}0.001{col 54}{space 4}-.5636593{col 67}{space 3}-.1527159
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8079004{col 26}{space 2} .1281421{col 37}{space 1}   -6.30{col 46}{space 3}0.000{col 54}{space 4}-1.059054{col 67}{space 3}-.5567464
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9066341{col 26}{space 2} .1685588{col 37}{space 1}   -5.38{col 46}{space 3}0.000{col 54}{space 4}-1.237003{col 67}{space 3} -.576265
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.022473{col 26}{space 2} .1949053{col 37}{space 1}   -5.25{col 46}{space 3}0.000{col 54}{space 4} -1.40448{col 67}{space 3}-.6404657
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.012528{col 26}{space 2} .2136106{col 37}{space 1}   -4.74{col 46}{space 3}0.000{col 54}{space 4}-1.431198{col 67}{space 3}-.5938593
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.390359{col 26}{space 2} .4326499{col 37}{space 1}    5.52{col 46}{space 3}0.000{col 54}{space 4} 1.542381{col 67}{space 3} 3.238338
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7159927{txt} {res} .7361217{txt} {res}-.1441689{txt} {res} .7367637{txt} {res}        1{txt} ... {res} .6352011
{txt}{hline 78}

{com}.  estimates store mA52
{txt}
{com}. xtpcse tfc_ BRdisadv safe4gcon safe4gconBR_ geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6446
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}  2680.38
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0498425{col 26}{space 2} .0086259{col 37}{space 1}    5.78{col 46}{space 3}0.000{col 54}{space 4} .0329361{col 67}{space 3}  .066749
{txt}{space 3}safe4gcon {c |}{col 14}{res}{space 2}-3.052265{col 26}{space 2} 1.679919{col 37}{space 1}   -1.82{col 46}{space 3}0.069{col 54}{space 4}-6.344847{col 67}{space 3} .2403161
{txt}safe4gconBR_ {c |}{col 14}{res}{space 2}-.1914392{col 26}{space 2} .0919424{col 37}{space 1}   -2.08{col 46}{space 3}0.037{col 54}{space 4}-.3716429{col 67}{space 3}-.0112355
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0293846{col 26}{space 2} .0075552{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .0145768{col 67}{space 3} .0441925
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.262089{col 26}{space 2} .5427051{col 37}{space 1}   -4.17{col 46}{space 3}0.000{col 54}{space 4}-3.325772{col 67}{space 3}-1.198407
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0367848{col 26}{space 2} .0094995{col 37}{space 1}   -3.87{col 46}{space 3}0.000{col 54}{space 4}-.0554036{col 67}{space 3}-.0181661
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4525686{col 26}{space 2} .0803578{col 37}{space 1}    5.63{col 46}{space 3}0.000{col 54}{space 4} .2950701{col 67}{space 3}  .610067
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0327178{col 26}{space 2} .0370136{col 37}{space 1}    0.88{col 46}{space 3}0.377{col 54}{space 4}-.0398275{col 67}{space 3} .1052632
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1198306{col 26}{space 2} .0564017{col 37}{space 1}   -2.12{col 46}{space 3}0.034{col 54}{space 4}-.2303759{col 67}{space 3}-.0092853
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2057702{col 26}{space 2} .0831186{col 37}{space 1}   -2.48{col 46}{space 3}0.013{col 54}{space 4}-.3686797{col 67}{space 3}-.0428607
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3579062{col 26}{space 2} .1050015{col 37}{space 1}   -3.41{col 46}{space 3}0.001{col 54}{space 4}-.5637054{col 67}{space 3}-.1521071
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8065271{col 26}{space 2} .1285459{col 37}{space 1}   -6.27{col 46}{space 3}0.000{col 54}{space 4}-1.058472{col 67}{space 3}-.5545819
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -.907268{col 26}{space 2} .1691277{col 37}{space 1}   -5.36{col 46}{space 3}0.000{col 54}{space 4}-1.238752{col 67}{space 3}-.5757838
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.027955{col 26}{space 2} .1954226{col 37}{space 1}   -5.26{col 46}{space 3}0.000{col 54}{space 4}-1.410976{col 67}{space 3}-.6449334
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.016753{col 26}{space 2} .2141289{col 37}{space 1}   -4.75{col 46}{space 3}0.000{col 54}{space 4}-1.436438{col 67}{space 3}-.5970679
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.411476{col 26}{space 2} .4356628{col 37}{space 1}    5.54{col 46}{space 3}0.000{col 54}{space 4} 1.557593{col 67}{space 3}  3.26536
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7157677{txt} {res} .7276121{txt} {res}-.1443032{txt} {res} .7501647{txt} {res}        1{txt} ... {res} .6489284
{txt}{hline 78}

{com}.  estimates store mA53
{txt}
{com}. xtpcse tfc_ BRdisadv safe4gcon geocon indcon size ltfc_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}2
{txt}(note: computations for rho restarted at each gap)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3483
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        2
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 8.840102
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.6441
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}  2447.33
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0453839{col 26}{space 2} .0076241{col 37}{space 1}    5.95{col 46}{space 3}0.000{col 54}{space 4} .0304408{col 67}{space 3} .0603269
{txt}{space 3}safe4gcon {c |}{col 14}{res}{space 2}-2.917125{col 26}{space 2} 1.602538{col 37}{space 1}   -1.82{col 46}{space 3}0.069{col 54}{space 4}-6.058041{col 67}{space 3} .2237914
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0282732{col 26}{space 2} .0072529{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .0140577{col 67}{space 3} .0424886
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.086401{col 26}{space 2} .5308411{col 37}{space 1}   -3.93{col 46}{space 3}0.000{col 54}{space 4} -3.12683{col 67}{space 3}-1.045971
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0366579{col 26}{space 2} .0096609{col 37}{space 1}   -3.79{col 46}{space 3}0.000{col 54}{space 4}-.0555928{col 67}{space 3}-.0177229
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .4523941{col 26}{space 2} .0806591{col 37}{space 1}    5.61{col 46}{space 3}0.000{col 54}{space 4} .2943051{col 67}{space 3}  .610483
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2} .0237061{col 26}{space 2} .0401743{col 37}{space 1}    0.59{col 46}{space 3}0.555{col 54}{space 4} -.055034{col 67}{space 3} .1024462
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.1326986{col 26}{space 2} .0606919{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-.2516526{col 67}{space 3}-.0137446
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.2168809{col 26}{space 2} .0886283{col 37}{space 1}   -2.45{col 46}{space 3}0.014{col 54}{space 4}-.3905892{col 67}{space 3}-.0431727
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.3713323{col 26}{space 2} .1109931{col 37}{space 1}   -3.35{col 46}{space 3}0.001{col 54}{space 4}-.5888747{col 67}{space 3}-.1537899
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.8120303{col 26}{space 2}  .134184{col 37}{space 1}   -6.05{col 46}{space 3}0.000{col 54}{space 4}-1.075026{col 67}{space 3}-.5490344
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.9124015{col 26}{space 2} .1745561{col 37}{space 1}   -5.23{col 46}{space 3}0.000{col 54}{space 4}-1.254525{col 67}{space 3}-.5702779
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.030317{col 26}{space 2} .2008368{col 37}{space 1}   -5.13{col 46}{space 3}0.000{col 54}{space 4}-1.423949{col 67}{space 3}-.6366837
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.022513{col 26}{space 2} .2202335{col 37}{space 1}   -4.64{col 46}{space 3}0.000{col 54}{space 4}-1.454163{col 67}{space 3}-.5908633
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.409618{col 26}{space 2} .4413086{col 37}{space 1}    5.46{col 46}{space 3}0.000{col 54}{space 4} 1.544669{col 67}{space 3} 3.274567
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7174819{txt} {res} .7251723{txt} {res}-.1391192{txt} {res} .7470011{txt} {res}        1{txt} ... {res} .6625475
{txt}{hline 78}

{com}.  estimates store mA54
{txt}
{com}. xtpcse tfd_ BRdisadv safecon safeconBR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3846
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   154.82
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0779466{col 26}{space 2} .0145115{col 37}{space 1}    5.37{col 46}{space 3}0.000{col 54}{space 4} .0495045{col 67}{space 3} .1063886
{txt}{space 5}safecon {c |}{col 14}{res}{space 2} 3.020634{col 26}{space 2} 2.726966{col 37}{space 1}    1.11{col 46}{space 3}0.268{col 54}{space 4}-2.324121{col 67}{space 3} 8.365389
{txt}{space 2}safeconBR_ {c |}{col 14}{res}{space 2}-.3421941{col 26}{space 2} .1967561{col 37}{space 1}   -1.74{col 46}{space 3}0.082{col 54}{space 4}-.7278291{col 67}{space 3} .0434408
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0174083{col 26}{space 2} .0140656{col 37}{space 1}    1.24{col 46}{space 3}0.216{col 54}{space 4}-.0101598{col 67}{space 3} .0449763
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -3.26321{col 26}{space 2} 1.441651{col 37}{space 1}   -2.26{col 46}{space 3}0.024{col 54}{space 4}-6.088795{col 67}{space 3}-.4376247
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0240417{col 26}{space 2} .0295869{col 37}{space 1}   -0.81{col 46}{space 3}0.416{col 54}{space 4}-.0820309{col 67}{space 3} .0339476
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0045497{col 26}{space 2} .0018353{col 37}{space 1}    2.48{col 46}{space 3}0.013{col 54}{space 4} .0009526{col 67}{space 3} .0081468
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1242698{col 26}{space 2} .0611897{col 37}{space 1}   -2.03{col 46}{space 3}0.042{col 54}{space 4}-.2441993{col 67}{space 3}-.0043403
{txt}{space 7}1992  {c |}{col 14}{res}{space 2} -.203113{col 26}{space 2} .1215156{col 37}{space 1}   -1.67{col 46}{space 3}0.095{col 54}{space 4}-.4412792{col 67}{space 3} .0350532
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.0975451{col 26}{space 2} .1653115{col 37}{space 1}   -0.59{col 46}{space 3}0.555{col 54}{space 4}-.4215497{col 67}{space 3} .2264594
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2779179{col 26}{space 2} .2014942{col 37}{space 1}   -1.38{col 46}{space 3}0.168{col 54}{space 4}-.6728394{col 67}{space 3} .1170036
{txt}{space 7}1995  {c |}{col 14}{res}{space 2} -.586278{col 26}{space 2} .2316115{col 37}{space 1}   -2.53{col 46}{space 3}0.011{col 54}{space 4}-1.040228{col 67}{space 3}-.1323277
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.009519{col 26}{space 2}  .254436{col 37}{space 1}   -3.97{col 46}{space 3}0.000{col 54}{space 4}-1.508205{col 67}{space 3}-.5108338
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.303747{col 26}{space 2} .2698672{col 37}{space 1}   -4.83{col 46}{space 3}0.000{col 54}{space 4}-1.832677{col 67}{space 3}-.7748175
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9116781{col 26}{space 2} .2745744{col 37}{space 1}   -3.32{col 46}{space 3}0.001{col 54}{space 4}-1.449834{col 67}{space 3}-.3735223
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.836514{col 26}{space 2} .2995481{col 37}{space 1}   19.48{col 46}{space 3}0.000{col 54}{space 4}  5.24941{col 67}{space 3} 6.423617
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8891339{txt} {res} .9465206{txt} {res} .6353821{txt} {res}        1{txt} {res}        1{txt} ... {res} .4835054
{txt}{hline 78}

{com}.  estimates store mA55   
{txt}
{com}. xtpcse tfd_ BRdisadv safe4con safe4conBR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3862
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   233.23
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0842011{col 26}{space 2} .0118695{col 37}{space 1}    7.09{col 46}{space 3}0.000{col 54}{space 4} .0609373{col 67}{space 3} .1074648
{txt}{space 4}safe4con {c |}{col 14}{res}{space 2} .2924439{col 26}{space 2} 2.101843{col 37}{space 1}    0.14{col 46}{space 3}0.889{col 54}{space 4}-3.827093{col 67}{space 3} 4.411981
{txt}{space 1}safe4conBR_ {c |}{col 14}{res}{space 2}-.4983159{col 26}{space 2} .1823186{col 37}{space 1}   -2.73{col 46}{space 3}0.006{col 54}{space 4}-.8556537{col 67}{space 3}-.1409781
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0122081{col 26}{space 2} .0117618{col 37}{space 1}    1.04{col 46}{space 3}0.299{col 54}{space 4}-.0108446{col 67}{space 3} .0352609
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.111399{col 26}{space 2} 1.313349{col 37}{space 1}   -2.37{col 46}{space 3}0.018{col 54}{space 4}-5.685515{col 67}{space 3}-.5372835
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0266031{col 26}{space 2} .0283176{col 37}{space 1}   -0.94{col 46}{space 3}0.347{col 54}{space 4}-.0821045{col 67}{space 3} .0288983
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0045692{col 26}{space 2} .0017766{col 37}{space 1}    2.57{col 46}{space 3}0.010{col 54}{space 4} .0010872{col 67}{space 3} .0080513
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1258825{col 26}{space 2} .0596807{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4}-.2428545{col 67}{space 3}-.0089106
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2013955{col 26}{space 2} .1147214{col 37}{space 1}   -1.76{col 46}{space 3}0.079{col 54}{space 4}-.4262453{col 67}{space 3} .0234544
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1040324{col 26}{space 2} .1587667{col 37}{space 1}   -0.66{col 46}{space 3}0.512{col 54}{space 4}-.4152095{col 67}{space 3} .2071447
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2820027{col 26}{space 2} .1922738{col 37}{space 1}   -1.47{col 46}{space 3}0.142{col 54}{space 4}-.6588524{col 67}{space 3} .0948471
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6104199{col 26}{space 2} .2204602{col 37}{space 1}   -2.77{col 46}{space 3}0.006{col 54}{space 4}-1.042514{col 67}{space 3}-.1783259
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.033465{col 26}{space 2} .2409323{col 37}{space 1}   -4.29{col 46}{space 3}0.000{col 54}{space 4}-1.505683{col 67}{space 3} -.561246
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.331057{col 26}{space 2} .2553539{col 37}{space 1}   -5.21{col 46}{space 3}0.000{col 54}{space 4}-1.831542{col 67}{space 3}-.8305729
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9323145{col 26}{space 2} .2594583{col 37}{space 1}   -3.59{col 46}{space 3}0.000{col 54}{space 4}-1.440843{col 67}{space 3}-.4237856
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  5.88977{col 26}{space 2} .2873816{col 37}{space 1}   20.49{col 46}{space 3}0.000{col 54}{space 4} 5.326513{col 67}{space 3} 6.453028
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8815474{txt} {res} .9485744{txt} {res} .6532369{txt} {res}        1{txt} {res}        1{txt} ... {res} .5052521
{txt}{hline 78}

{com}.  estimates store mA56
{txt}
{com}. xtpcse tfd_ BRdisadv safe4gcon safe4gconBR_ geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3820
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}15{txt}){col 68}= {res}   185.15
{txt}Estimated coefficients{col 28}= {res}       16{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0812384{col 26}{space 2} .0123047{col 37}{space 1}    6.60{col 46}{space 3}0.000{col 54}{space 4} .0571215{col 67}{space 3} .1053553
{txt}{space 3}safe4gcon {c |}{col 14}{res}{space 2}-1.951986{col 26}{space 2} 2.161062{col 37}{space 1}   -0.90{col 46}{space 3}0.366{col 54}{space 4} -6.18759{col 67}{space 3} 2.283618
{txt}safe4gconBR_ {c |}{col 14}{res}{space 2} -.180801{col 26}{space 2} .1712414{col 37}{space 1}   -1.06{col 46}{space 3}0.291{col 54}{space 4} -.516428{col 67}{space 3}  .154826
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0136927{col 26}{space 2} .0119693{col 37}{space 1}    1.14{col 46}{space 3}0.253{col 54}{space 4}-.0097666{col 67}{space 3} .0371521
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -3.12738{col 26}{space 2} 1.299761{col 37}{space 1}   -2.41{col 46}{space 3}0.016{col 54}{space 4}-5.674864{col 67}{space 3}-.5798956
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0230781{col 26}{space 2} .0278056{col 37}{space 1}   -0.83{col 46}{space 3}0.407{col 54}{space 4} -.077576{col 67}{space 3} .0314198
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0045926{col 26}{space 2} .0017911{col 37}{space 1}    2.56{col 46}{space 3}0.010{col 54}{space 4}  .001082{col 67}{space 3} .0081031
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1258532{col 26}{space 2} .0606312{col 37}{space 1}   -2.08{col 46}{space 3}0.038{col 54}{space 4}-.2446881{col 67}{space 3}-.0070182
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2035874{col 26}{space 2} .1212947{col 37}{space 1}   -1.68{col 46}{space 3}0.093{col 54}{space 4}-.4413205{col 67}{space 3} .0341458
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1105886{col 26}{space 2} .1668749{col 37}{space 1}   -0.66{col 46}{space 3}0.508{col 54}{space 4}-.4376574{col 67}{space 3} .2164801
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2888663{col 26}{space 2} .2011189{col 37}{space 1}   -1.44{col 46}{space 3}0.151{col 54}{space 4}-.6830521{col 67}{space 3} .1053195
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6082425{col 26}{space 2} .2295499{col 37}{space 1}   -2.65{col 46}{space 3}0.008{col 54}{space 4}-1.058152{col 67}{space 3}-.1583329
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.028738{col 26}{space 2} .2512752{col 37}{space 1}   -4.09{col 46}{space 3}0.000{col 54}{space 4}-1.521228{col 67}{space 3}-.5362479
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.329862{col 26}{space 2} .2671678{col 37}{space 1}   -4.98{col 46}{space 3}0.000{col 54}{space 4}-1.853501{col 67}{space 3}-.8062225
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9212731{col 26}{space 2} .2721156{col 37}{space 1}   -3.39{col 46}{space 3}0.001{col 54}{space 4} -1.45461{col 67}{space 3}-.3879364
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.836879{col 26}{space 2} .2953353{col 37}{space 1}   19.76{col 46}{space 3}0.000{col 54}{space 4} 5.258032{col 67}{space 3} 6.415725
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8803964{txt} {res} .9552485{txt} {res} .6428318{txt} {res}        1{txt} {res}        1{txt} ... {res} .5284654
{txt}{hline 78}

{com}.  estimates store mA57
{txt}
{com}. xtpcse tfd_ BRdisadv safe4gcon geocon indcon size ltfd_ i.dy1, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}3
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2411;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2429;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3380
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      387
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res}  8.73385
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        9
{txt}Estimated covariances{col 28}= {res}    75078{col 49}{txt}R-squared{col 68}= {res}   0.3547
{txt}Estimated autocorrelations{col 28}= {res}      387{col 49}{txt}Wald chi2({res}14{txt}){col 68}= {res}   157.33
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd_{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0746962{col 26}{space 2} .0131271{col 37}{space 1}    5.69{col 46}{space 3}0.000{col 54}{space 4} .0489675{col 67}{space 3} .1004249
{txt}{space 3}safe4gcon {c |}{col 14}{res}{space 2}-2.548541{col 26}{space 2}  2.09601{col 37}{space 1}   -1.22{col 46}{space 3}0.224{col 54}{space 4}-6.656645{col 67}{space 3} 1.559563
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0101845{col 26}{space 2} .0111651{col 37}{space 1}    0.91{col 46}{space 3}0.362{col 54}{space 4}-.0116988{col 67}{space 3} .0320677
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.932603{col 26}{space 2} 1.276527{col 37}{space 1}   -2.30{col 46}{space 3}0.022{col 54}{space 4} -5.43455{col 67}{space 3}-.4306553
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0209918{col 26}{space 2} .0275737{col 37}{space 1}   -0.76{col 46}{space 3}0.446{col 54}{space 4}-.0750354{col 67}{space 3} .0330517
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0045681{col 26}{space 2} .0018414{col 37}{space 1}    2.48{col 46}{space 3}0.013{col 54}{space 4} .0009591{col 67}{space 3} .0081771
{txt}{space 12} {c |}
{space 9}dy1 {c |}
{space 7}1991  {c |}{col 14}{res}{space 2}-.1329128{col 26}{space 2} .0659424{col 37}{space 1}   -2.02{col 46}{space 3}0.044{col 54}{space 4}-.2621576{col 67}{space 3} -.003668
{txt}{space 7}1992  {c |}{col 14}{res}{space 2}-.2115239{col 26}{space 2} .1274351{col 37}{space 1}   -1.66{col 46}{space 3}0.097{col 54}{space 4} -.461292{col 67}{space 3} .0382443
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1205638{col 26}{space 2} .1724783{col 37}{space 1}   -0.70{col 46}{space 3}0.485{col 54}{space 4}-.4586151{col 67}{space 3} .2174874
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2959294{col 26}{space 2} .2075492{col 37}{space 1}   -1.43{col 46}{space 3}0.154{col 54}{space 4}-.7027184{col 67}{space 3} .1108595
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.6093594{col 26}{space 2} .2360665{col 37}{space 1}   -2.58{col 46}{space 3}0.010{col 54}{space 4}-1.072041{col 67}{space 3}-.1466774
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.027198{col 26}{space 2} .2587196{col 37}{space 1}   -3.97{col 46}{space 3}0.000{col 54}{space 4}-1.534279{col 67}{space 3}-.5201165
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.328283{col 26}{space 2} .2749481{col 37}{space 1}   -4.83{col 46}{space 3}0.000{col 54}{space 4}-1.867171{col 67}{space 3}-.7893947
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.9237496{col 26}{space 2} .2803975{col 37}{space 1}   -3.29{col 46}{space 3}0.001{col 54}{space 4}-1.473319{col 67}{space 3}-.3741806
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.830988{col 26}{space 2} .3066256{col 37}{space 1}   19.02{col 46}{space 3}0.000{col 54}{space 4} 5.230013{col 67}{space 3} 6.431964
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8791526{txt} {res} .9528431{txt} {res} .6003673{txt} {res}        1{txt} {res}        1{txt} ... {res} .5592778
{txt}{hline 78}

{com}.  estimates store mA58
{txt}
{com}. estout mA51 mA52 mA53 mA54 mA55 mA56 mA57 mA58, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2 N N_g, fmt(3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 140}
{txt}                     mA51            mA52            mA53            mA54            mA55            mA56            mA57            mA58   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 140}
{txt}BRdisadv    {res}        0.049***        0.049***        0.050***        0.045***        0.078***        0.084***        0.081***        0.075***{txt}
            {res}      (0.008)         (0.008)         (0.009)         (0.008)         (0.015)         (0.012)         (0.012)         (0.013)   {txt}
{txt}safecon     {res}        0.734                                                           3.021                                                   {txt}
            {res}      (1.305)                                                         (2.727)                                                   {txt}
{txt}safeconBR_  {res}       -0.139                                                          -0.342*                                                  {txt}
            {res}      (0.118)                                                         (0.197)                                                   {txt}
{txt}geocon      {res}        0.027***        0.030***        0.029***        0.028***        0.017           0.012           0.014           0.010   {txt}
            {res}      (0.007)         (0.008)         (0.008)         (0.007)         (0.014)         (0.012)         (0.012)         (0.011)   {txt}
{txt}indcon      {res}       -2.244***       -2.295***       -2.262***       -2.086***       -3.263**        -3.111**        -3.127**        -2.933** {txt}
            {res}      (0.507)         (0.528)         (0.543)         (0.531)         (1.442)         (1.313)         (1.300)         (1.277)   {txt}
{txt}size        {res}       -0.035***       -0.036***       -0.037***       -0.037***       -0.024          -0.027          -0.023          -0.021   {txt}
            {res}      (0.009)         (0.010)         (0.009)         (0.010)         (0.030)         (0.028)         (0.028)         (0.028)   {txt}
{txt}ltfc_       {res}        0.450***        0.453***        0.453***        0.452***                                                                {txt}
            {res}      (0.081)         (0.080)         (0.080)         (0.081)                                                                   {txt}
{txt}1990.dy1    {res}        0.000           0.000           0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1991.dy1    {res}        0.020           0.028           0.033           0.024          -0.124**        -0.126**        -0.126**        -0.133** {txt}
            {res}      (0.040)         (0.037)         (0.037)         (0.040)         (0.061)         (0.060)         (0.061)         (0.066)   {txt}
{txt}1992.dy1    {res}       -0.131**        -0.124**        -0.120**        -0.133**        -0.203*         -0.201*         -0.204*         -0.212*  {txt}
            {res}      (0.060)         (0.056)         (0.056)         (0.061)         (0.122)         (0.115)         (0.121)         (0.127)   {txt}
{txt}1993.dy1    {res}       -0.208**        -0.206**        -0.206**        -0.217**        -0.098          -0.104          -0.111          -0.121   {txt}
            {res}      (0.087)         (0.083)         (0.083)         (0.089)         (0.165)         (0.159)         (0.167)         (0.172)   {txt}
{txt}1994.dy1    {res}       -0.369***       -0.358***       -0.358***       -0.371***       -0.278          -0.282          -0.289          -0.296   {txt}
            {res}      (0.110)         (0.105)         (0.105)         (0.111)         (0.201)         (0.192)         (0.201)         (0.208)   {txt}
{txt}1995.dy1    {res}       -0.813***       -0.808***       -0.807***       -0.812***       -0.586**        -0.610***       -0.608***       -0.609***{txt}
            {res}      (0.132)         (0.128)         (0.129)         (0.134)         (0.232)         (0.220)         (0.230)         (0.236)   {txt}
{txt}1996.dy1    {res}       -0.919***       -0.907***       -0.907***       -0.912***       -1.010***       -1.033***       -1.029***       -1.027***{txt}
            {res}      (0.173)         (0.169)         (0.169)         (0.175)         (0.254)         (0.241)         (0.251)         (0.259)   {txt}
{txt}1997.dy1    {res}       -1.036***       -1.022***       -1.028***       -1.030***       -1.304***       -1.331***       -1.330***       -1.328***{txt}
            {res}      (0.201)         (0.195)         (0.195)         (0.201)         (0.270)         (0.255)         (0.267)         (0.275)   {txt}
{txt}1998.dy1    {res}       -1.026***       -1.013***       -1.017***       -1.023***       -0.912***       -0.932***       -0.921***       -0.924***{txt}
            {res}      (0.220)         (0.214)         (0.214)         (0.220)         (0.275)         (0.259)         (0.272)         (0.280)   {txt}
{txt}safe4con    {res}                       -1.033                                                           0.292                                   {txt}
            {res}                      (1.015)                                                         (2.102)                                   {txt}
{txt}safe4conBR_ {res}                       -0.180*                                                         -0.498***                                {txt}
            {res}                      (0.098)                                                         (0.182)                                   {txt}
{txt}safe4gcon   {res}                                       -3.052*         -2.917*                                         -1.952          -2.549   {txt}
            {res}                                      (1.680)         (1.603)                                         (2.161)         (2.096)   {txt}
{txt}safe4gconBR_{res}                                       -0.191**                                                        -0.181                   {txt}
            {res}                                      (0.092)                                                         (0.171)                   {txt}
{txt}ltfd_       {res}                                                                        0.005**         0.005**         0.005**         0.005** {txt}
            {res}                                                                      (0.002)         (0.002)         (0.002)         (0.002)   {txt}
{txt}Constant    {res}        2.382***        2.390***        2.411***        2.410***        5.837***        5.890***        5.837***        5.831***{txt}
            {res}      (0.432)         (0.433)         (0.436)         (0.441)         (0.300)         (0.287)         (0.295)         (0.307)   {txt}
{txt}{hline 140}
{txt}r2          {res}        0.641           0.646           0.645           0.644           0.385           0.386           0.382           0.355   {txt}
{txt}N           {res}         3483            3483            3483            3483            3380            3380            3380            3380   {txt}
{txt}N_g         {res}          394             394             394             394             387             387             387             387   {txt}
{txt}{hline 140}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ********************************************************************************
. **TABLE A7: Alternative Estimations with Independent Variables Lagged Two Years
. ********************************************************************************
. 
. xtpcse tfc2 BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfc_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}4
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3273;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3099
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.865482
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.5649
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}12{txt}){col 68}= {res}   353.18
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2}  .074705{col 26}{space 2} .0092183{col 37}{space 1}    8.10{col 46}{space 3}0.000{col 54}{space 4} .0566376{col 67}{space 3} .0927725
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2}  .057046{col 26}{space 2} .1195529{col 37}{space 1}    0.48{col 46}{space 3}0.633{col 54}{space 4}-.1772733{col 67}{space 3} .2913653
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2}-.0282588{col 26}{space 2} .0078808{col 37}{space 1}   -3.59{col 46}{space 3}0.000{col 54}{space 4}-.0437049{col 67}{space 3}-.0128128
{txt}{space 6}geocon {c |}{col 14}{res}{space 2}  .027248{col 26}{space 2} .0074425{col 37}{space 1}    3.66{col 46}{space 3}0.000{col 54}{space 4} .0126609{col 67}{space 3} .0418351
{txt}{space 6}indcon {c |}{col 14}{res}{space 2} -2.79265{col 26}{space 2} .5566702{col 37}{space 1}   -5.02{col 46}{space 3}0.000{col 54}{space 4}-3.883704{col 67}{space 3}-1.701597
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0423708{col 26}{space 2} .0132076{col 37}{space 1}   -3.21{col 46}{space 3}0.001{col 54}{space 4}-.0682573{col 67}{space 3}-.0164843
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .3522455{col 26}{space 2} .0690393{col 37}{space 1}    5.10{col 46}{space 3}0.000{col 54}{space 4}  .216931{col 67}{space 3} .4875601
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.1102578{col 26}{space 2} .0368807{col 37}{space 1}   -2.99{col 46}{space 3}0.003{col 54}{space 4}-.1825426{col 67}{space 3}-.0379731
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1828396{col 26}{space 2}  .051307{col 37}{space 1}   -3.56{col 46}{space 3}0.000{col 54}{space 4}-.2833994{col 67}{space 3}-.0822798
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2946646{col 26}{space 2} .0768533{col 37}{space 1}   -3.83{col 46}{space 3}0.000{col 54}{space 4}-.4452943{col 67}{space 3}-.1440349
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7515269{col 26}{space 2} .1015085{col 37}{space 1}   -7.40{col 46}{space 3}0.000{col 54}{space 4}-.9504799{col 67}{space 3}-.5525739
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.043317{col 26}{space 2} .1248966{col 37}{space 1}   -8.35{col 46}{space 3}0.000{col 54}{space 4}-1.288109{col 67}{space 3}-.7985236
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.170514{col 26}{space 2} .1624388{col 37}{space 1}   -7.21{col 46}{space 3}0.000{col 54}{space 4}-1.488888{col 67}{space 3}-.8521398
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.207637{col 26}{space 2} .1871428{col 37}{space 1}   -6.45{col 46}{space 3}0.000{col 54}{space 4}-1.574431{col 67}{space 3}-.8408443
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.755065{col 26}{space 2} .4522593{col 37}{space 1}    6.09{col 46}{space 3}0.000{col 54}{space 4} 1.868653{col 67}{space 3} 3.641477
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7399574{txt} {res} .7532924{txt} {res} .2044057{txt} {res}        1{txt} {res}        1{txt} ... {res} .4584996
{txt}{hline 78}

{com}.  estimates store mA71
{txt}
{com}. xtpcse tfc2 BRdisadv RDcon_ RDconBR_ geocon indcon size ltfc_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}4
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3273;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3099
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.865482
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.5679
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}12{txt}){col 68}= {res} 34629.92
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0678992{col 26}{space 2} .0081765{col 37}{space 1}    8.30{col 46}{space 3}0.000{col 54}{space 4} .0518736{col 67}{space 3} .0839249
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2} .0903625{col 26}{space 2} .1059848{col 37}{space 1}    0.85{col 46}{space 3}0.394{col 54}{space 4}-.1173638{col 67}{space 3} .2980889
{txt}{space 4}RDconBR_ {c |}{col 14}{res}{space 2}-.0317596{col 26}{space 2} .0065748{col 37}{space 1}   -4.83{col 46}{space 3}0.000{col 54}{space 4}-.0446459{col 67}{space 3}-.0188732
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0283547{col 26}{space 2} .0077907{col 37}{space 1}    3.64{col 46}{space 3}0.000{col 54}{space 4} .0130853{col 67}{space 3} .0436241
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-2.828665{col 26}{space 2} .6311384{col 37}{space 1}   -4.48{col 46}{space 3}0.000{col 54}{space 4}-4.065673{col 67}{space 3}-1.591656
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0424057{col 26}{space 2} .0129378{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-.0677633{col 67}{space 3}-.0170482
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .3533139{col 26}{space 2} .0690954{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .2178894{col 67}{space 3} .4887384
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.1134638{col 26}{space 2} .0351184{col 37}{space 1}   -3.23{col 46}{space 3}0.001{col 54}{space 4}-.1822947{col 67}{space 3} -.044633
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} -.187134{col 26}{space 2} .0499515{col 37}{space 1}   -3.75{col 46}{space 3}0.000{col 54}{space 4}-.2850371{col 67}{space 3}-.0892308
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2921042{col 26}{space 2}  .077119{col 37}{space 1}   -3.79{col 46}{space 3}0.000{col 54}{space 4}-.4432547{col 67}{space 3}-.1409537
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7487311{col 26}{space 2} .1022338{col 37}{space 1}   -7.32{col 46}{space 3}0.000{col 54}{space 4}-.9491056{col 67}{space 3}-.5483566
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -1.03796{col 26}{space 2} .1256588{col 37}{space 1}   -8.26{col 46}{space 3}0.000{col 54}{space 4}-1.284246{col 67}{space 3}-.7916728
{txt}{space 7}1997  {c |}{col 14}{res}{space 2} -1.16148{col 26}{space 2} .1638035{col 37}{space 1}   -7.09{col 46}{space 3}0.000{col 54}{space 4}-1.482529{col 67}{space 3}-.8404309
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.200728{col 26}{space 2} .1884902{col 37}{space 1}   -6.37{col 46}{space 3}0.000{col 54}{space 4}-1.570162{col 67}{space 3}-.8312937
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.759147{col 26}{space 2} .4491716{col 37}{space 1}    6.14{col 46}{space 3}0.000{col 54}{space 4} 1.878787{col 67}{space 3} 3.639507
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7416712{txt} {res}  .749457{txt} {res} .2170176{txt} {res}        1{txt} {res}        1{txt} ... {res} .4716868
{txt}{hline 78}

{com}.  estimates store mA72
{txt}
{com}. xtpcse tfc2 BRdisadv psg50dcon1_ psg501BR_ geocon indcon size ltfc_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}4
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3273;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3099
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.865482
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.5643
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}12{txt}){col 68}= {res}  3458.11
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0707827{col 26}{space 2} .0080985{col 37}{space 1}    8.74{col 46}{space 3}0.000{col 54}{space 4} .0549098{col 67}{space 3} .0866555
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2} .1662968{col 26}{space 2}  .125283{col 37}{space 1}    1.33{col 46}{space 3}0.184{col 54}{space 4}-.0792533{col 67}{space 3} .4118469
{txt}{space 3}psg501BR_ {c |}{col 14}{res}{space 2}-.0241877{col 26}{space 2}   .00554{col 37}{space 1}   -4.37{col 46}{space 3}0.000{col 54}{space 4}-.0350458{col 67}{space 3}-.0133296
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0262896{col 26}{space 2} .0077613{col 37}{space 1}    3.39{col 46}{space 3}0.001{col 54}{space 4} .0110777{col 67}{space 3} .0415015
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.032147{col 26}{space 2} .6784032{col 37}{space 1}   -4.47{col 46}{space 3}0.000{col 54}{space 4}-4.361793{col 67}{space 3}-1.702501
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0424061{col 26}{space 2} .0141636{col 37}{space 1}   -2.99{col 46}{space 3}0.003{col 54}{space 4}-.0701662{col 67}{space 3} -.014646
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .3539648{col 26}{space 2} .0691915{col 37}{space 1}    5.12{col 46}{space 3}0.000{col 54}{space 4}  .218352{col 67}{space 3} .4895777
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.1017998{col 26}{space 2} .0399792{col 37}{space 1}   -2.55{col 46}{space 3}0.011{col 54}{space 4}-.1801576{col 67}{space 3}-.0234419
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1800816{col 26}{space 2} .0527236{col 37}{space 1}   -3.42{col 46}{space 3}0.001{col 54}{space 4}-.2834179{col 67}{space 3}-.0767452
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2945609{col 26}{space 2} .0778742{col 37}{space 1}   -3.78{col 46}{space 3}0.000{col 54}{space 4}-.4471915{col 67}{space 3}-.1419303
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7502045{col 26}{space 2} .1010872{col 37}{space 1}   -7.42{col 46}{space 3}0.000{col 54}{space 4}-.9483318{col 67}{space 3}-.5520772
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.052673{col 26}{space 2} .1228303{col 37}{space 1}   -8.57{col 46}{space 3}0.000{col 54}{space 4}-1.293416{col 67}{space 3}-.8119299
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.176251{col 26}{space 2} .1598102{col 37}{space 1}   -7.36{col 46}{space 3}0.000{col 54}{space 4}-1.489473{col 67}{space 3} -.863029
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.216435{col 26}{space 2} .1828877{col 37}{space 1}   -6.65{col 46}{space 3}0.000{col 54}{space 4}-1.574889{col 67}{space 3} -.857982
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.761577{col 26}{space 2} .4578237{col 37}{space 1}    6.03{col 46}{space 3}0.000{col 54}{space 4} 1.864259{col 67}{space 3} 3.658895
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7436787{txt} {res} .7528139{txt} {res} .2053618{txt} {res}        1{txt} {res}        1{txt} ... {res} .4649101
{txt}{hline 78}

{com}.  estimates store mA73
{txt}
{com}. xtpcse tfc2 BRdisadv h50con1_ h501BR_ geocon indcon size ltfc_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}4
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3273;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3099
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      394
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.865482
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    77815{col 49}{txt}R-squared{col 68}= {res}   0.5642
{txt}Estimated autocorrelations{col 28}= {res}      394{col 49}{txt}Wald chi2({res}12{txt}){col 68}= {res}  2676.50
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfc2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0630277{col 26}{space 2} .0068026{col 37}{space 1}    9.27{col 46}{space 3}0.000{col 54}{space 4} .0496949{col 67}{space 3} .0763605
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2} .2136108{col 26}{space 2} .0706552{col 37}{space 1}    3.02{col 46}{space 3}0.003{col 54}{space 4} .0751292{col 67}{space 3} .3520925
{txt}{space 5}h501BR_ {c |}{col 14}{res}{space 2}-.0045765{col 26}{space 2} .0026902{col 37}{space 1}   -1.70{col 46}{space 3}0.089{col 54}{space 4}-.0098492{col 67}{space 3} .0006963
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0262876{col 26}{space 2} .0078486{col 37}{space 1}    3.35{col 46}{space 3}0.001{col 54}{space 4} .0109047{col 67}{space 3} .0416705
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-3.299365{col 26}{space 2} .7431038{col 37}{space 1}   -4.44{col 46}{space 3}0.000{col 54}{space 4}-4.755822{col 67}{space 3}-1.842909
{txt}{space 8}size {c |}{col 14}{res}{space 2} -.041643{col 26}{space 2} .0144761{col 37}{space 1}   -2.88{col 46}{space 3}0.004{col 54}{space 4}-.0700155{col 67}{space 3}-.0132704
{txt}{space 7}ltfc_ {c |}{col 14}{res}{space 2} .3524642{col 26}{space 2} .0689434{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .2173376{col 67}{space 3} .4875908
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.0871298{col 26}{space 2}  .042913{col 37}{space 1}   -2.03{col 46}{space 3}0.042{col 54}{space 4}-.1712377{col 67}{space 3} -.003022
{txt}{space 7}1993  {c |}{col 14}{res}{space 2}-.1615874{col 26}{space 2} .0582961{col 37}{space 1}   -2.77{col 46}{space 3}0.006{col 54}{space 4}-.2758457{col 67}{space 3} -.047329
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.2781725{col 26}{space 2}  .081174{col 37}{space 1}   -3.43{col 46}{space 3}0.001{col 54}{space 4}-.4372707{col 67}{space 3}-.1190743
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.7358358{col 26}{space 2} .1046339{col 37}{space 1}   -7.03{col 46}{space 3}0.000{col 54}{space 4}-.9409146{col 67}{space 3}-.5307571
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-1.016114{col 26}{space 2} .1282734{col 37}{space 1}   -7.92{col 46}{space 3}0.000{col 54}{space 4}-1.267525{col 67}{space 3}-.7647024
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.136752{col 26}{space 2} .1657139{col 37}{space 1}   -6.86{col 46}{space 3}0.000{col 54}{space 4}-1.461546{col 67}{space 3}-.8119591
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-1.198922{col 26}{space 2} .1881753{col 37}{space 1}   -6.37{col 46}{space 3}0.000{col 54}{space 4}-1.567739{col 67}{space 3}-.8301054
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.714874{col 26}{space 2} .4585864{col 37}{space 1}    5.92{col 46}{space 3}0.000{col 54}{space 4} 1.816061{col 67}{space 3} 3.613686
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .7352176{txt} {res} .7546014{txt} {res} .2209675{txt} {res}        1{txt} {res}        1{txt} ... {res}  .457961
{txt}{hline 78}

{com}.  estimates store mA74
{txt}
{com}.  
. xtpcse tfd2 BRdisadv grfd1con_ grfd1BR_ geocon indcon size ltfd_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}5
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2731;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3412;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3761;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3000
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      386
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.772021
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    74691{col 49}{txt}R-squared{col 68}= {res}   0.3783
{txt}Estimated autocorrelations{col 28}= {res}      386{col 49}{txt}Wald chi2({res}13{txt}){col 68}= {res}   272.24
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .1038921{col 26}{space 2} .0158521{col 37}{space 1}    6.55{col 46}{space 3}0.000{col 54}{space 4} .0728226{col 67}{space 3} .1349616
{txt}{space 3}grfd1con_ {c |}{col 14}{res}{space 2} .1446393{col 26}{space 2} .1272134{col 37}{space 1}    1.14{col 46}{space 3}0.256{col 54}{space 4}-.1046943{col 67}{space 3}  .393973
{txt}{space 4}grfd1BR_ {c |}{col 14}{res}{space 2} -.026583{col 26}{space 2} .0109016{col 37}{space 1}   -2.44{col 46}{space 3}0.015{col 54}{space 4}-.0479497{col 67}{space 3}-.0052162
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0206022{col 26}{space 2} .0079933{col 37}{space 1}    2.58{col 46}{space 3}0.010{col 54}{space 4} .0049356{col 67}{space 3} .0362688
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-4.452733{col 26}{space 2} 1.385729{col 37}{space 1}   -3.21{col 46}{space 3}0.001{col 54}{space 4}-7.168711{col 67}{space 3}-1.736755
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0936987{col 26}{space 2}  .010816{col 37}{space 1}   -8.66{col 46}{space 3}0.000{col 54}{space 4}-.1148975{col 67}{space 3}-.0724998
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0034245{col 26}{space 2} .0016868{col 37}{space 1}    2.03{col 46}{space 3}0.042{col 54}{space 4} .0001184{col 67}{space 3} .0067306
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.0879328{col 26}{space 2} .1033373{col 37}{space 1}   -0.85{col 46}{space 3}0.395{col 54}{space 4}-.2904703{col 67}{space 3} .1146046
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0534713{col 26}{space 2} .1551621{col 37}{space 1}    0.34{col 46}{space 3}0.730{col 54}{space 4}-.2506408{col 67}{space 3} .3575834
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.0945444{col 26}{space 2} .2041191{col 37}{space 1}   -0.46{col 46}{space 3}0.643{col 54}{space 4}-.4946105{col 67}{space 3} .3055218
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.3964185{col 26}{space 2}  .244543{col 37}{space 1}   -1.62{col 46}{space 3}0.105{col 54}{space 4}-.8757139{col 67}{space 3}  .082877
{txt}{space 7}1996  {c |}{col 14}{res}{space 2} -.843266{col 26}{space 2} .2836059{col 37}{space 1}   -2.97{col 46}{space 3}0.003{col 54}{space 4}-1.399123{col 67}{space 3}-.2874087
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.117686{col 26}{space 2} .3205044{col 37}{space 1}   -3.49{col 46}{space 3}0.000{col 54}{space 4}-1.745864{col 67}{space 3}-.4895092
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.7040886{col 26}{space 2} .3421912{col 37}{space 1}   -2.06{col 46}{space 3}0.040{col 54}{space 4}-1.374771{col 67}{space 3}-.0334062
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  5.91263{col 26}{space 2} .4047952{col 37}{space 1}   14.61{col 46}{space 3}0.000{col 54}{space 4} 5.119246{col 67}{space 3} 6.706014
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8758952{txt} {res}        1{txt} {res}  .472222{txt} {res}        1{txt} {res}        1{txt} ... {res} .1843092
{txt}{hline 78}

{com}.  estimates store mA75
{txt}
{com}. xtpcse tfd2 BRdisadv RDcon_ RDconBR_ geocon indcon size ltfd_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}5
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2731;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3412;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3761;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3000
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      386
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.772021
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    74691{col 49}{txt}R-squared{col 68}= {res}   0.3841
{txt}Estimated autocorrelations{col 28}= {res}      386{col 49}{txt}Wald chi2({res}13{txt}){col 68}= {res}   513.27
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .1040947{col 26}{space 2} .0133176{col 37}{space 1}    7.82{col 46}{space 3}0.000{col 54}{space 4} .0779927{col 67}{space 3} .1301966
{txt}{space 6}RDcon_ {c |}{col 14}{res}{space 2}   .14375{col 26}{space 2} .1094982{col 37}{space 1}    1.31{col 46}{space 3}0.189{col 54}{space 4}-.0708625{col 67}{space 3} .3583626
{txt}{space 4}RDconBR_ {c |}{col 14}{res}{space 2}-.0218943{col 26}{space 2} .0104485{col 37}{space 1}   -2.10{col 46}{space 3}0.036{col 54}{space 4}-.0423729{col 67}{space 3}-.0014157
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0210516{col 26}{space 2} .0091231{col 37}{space 1}    2.31{col 46}{space 3}0.021{col 54}{space 4} .0031707{col 67}{space 3} .0389325
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-4.339963{col 26}{space 2} 1.429292{col 37}{space 1}   -3.04{col 46}{space 3}0.002{col 54}{space 4}-7.141324{col 67}{space 3}-1.538601
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0901873{col 26}{space 2} .0109771{col 37}{space 1}   -8.22{col 46}{space 3}0.000{col 54}{space 4} -.111702{col 67}{space 3}-.0686725
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0033462{col 26}{space 2} .0016521{col 37}{space 1}    2.03{col 46}{space 3}0.043{col 54}{space 4} .0001081{col 67}{space 3} .0065844
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.0815867{col 26}{space 2} .1017428{col 37}{space 1}   -0.80{col 46}{space 3}0.423{col 54}{space 4} -.280999{col 67}{space 3} .1178257
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0634983{col 26}{space 2} .1534067{col 37}{space 1}    0.41{col 46}{space 3}0.679{col 54}{space 4}-.2371732{col 67}{space 3} .3641699
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.0919922{col 26}{space 2} .2023498{col 37}{space 1}   -0.45{col 46}{space 3}0.649{col 54}{space 4}-.4885905{col 67}{space 3} .3046062
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.3990246{col 26}{space 2} .2424813{col 37}{space 1}   -1.65{col 46}{space 3}0.100{col 54}{space 4}-.8742793{col 67}{space 3} .0762301
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8517738{col 26}{space 2} .2814612{col 37}{space 1}   -3.03{col 46}{space 3}0.002{col 54}{space 4}-1.403428{col 67}{space 3}-.3001199
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.132876{col 26}{space 2} .3183772{col 37}{space 1}   -3.56{col 46}{space 3}0.000{col 54}{space 4}-1.756883{col 67}{space 3}-.5088677
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.7217277{col 26}{space 2} .3389875{col 37}{space 1}   -2.13{col 46}{space 3}0.033{col 54}{space 4}-1.386131{col 67}{space 3}-.0573245
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.903577{col 26}{space 2} .4067896{col 37}{space 1}   14.51{col 46}{space 3}0.000{col 54}{space 4} 5.106284{col 67}{space 3}  6.70087
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8784062{txt} {res}        1{txt} {res} .3285048{txt} {res}        1{txt} {res}        1{txt} ... {res}  .222247
{txt}{hline 78}

{com}.  estimates store mA76
{txt}
{com}. xtpcse tfd2 BRdisadv psg50dcon1_ psg501BR_ geocon indcon size ltfd_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}5
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2731;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3412;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3761;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3000
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      386
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.772021
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    74691{col 49}{txt}R-squared{col 68}= {res}   0.3664
{txt}Estimated autocorrelations{col 28}= {res}      386{col 49}{txt}Wald chi2({res}13{txt}){col 68}= {res}   280.61
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0942922{col 26}{space 2} .0149559{col 37}{space 1}    6.30{col 46}{space 3}0.000{col 54}{space 4} .0649791{col 67}{space 3} .1236053
{txt}{space 1}psg50dcon1_ {c |}{col 14}{res}{space 2} .1112232{col 26}{space 2} .1618532{col 37}{space 1}    0.69{col 46}{space 3}0.492{col 54}{space 4}-.2060031{col 67}{space 3} .4284496
{txt}{space 3}psg501BR_ {c |}{col 14}{res}{space 2} -.007179{col 26}{space 2} .0087697{col 37}{space 1}   -0.82{col 46}{space 3}0.413{col 54}{space 4}-.0243673{col 67}{space 3} .0100093
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0167764{col 26}{space 2} .0087182{col 37}{space 1}    1.92{col 46}{space 3}0.054{col 54}{space 4}-.0003109{col 67}{space 3} .0338637
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-4.487954{col 26}{space 2} 1.369601{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-7.172323{col 67}{space 3}-1.803585
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0945324{col 26}{space 2} .0115783{col 37}{space 1}   -8.16{col 46}{space 3}0.000{col 54}{space 4}-.1172253{col 67}{space 3}-.0718394
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2} .0033065{col 26}{space 2} .0016541{col 37}{space 1}    2.00{col 46}{space 3}0.046{col 54}{space 4} .0000645{col 67}{space 3} .0065485
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.0891762{col 26}{space 2} .1072947{col 37}{space 1}   -0.83{col 46}{space 3}0.406{col 54}{space 4}  -.29947{col 67}{space 3} .1211176
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0423365{col 26}{space 2} .1606775{col 37}{space 1}    0.26{col 46}{space 3}0.792{col 54}{space 4}-.2725857{col 67}{space 3} .3572586
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.1079889{col 26}{space 2} .2148497{col 37}{space 1}   -0.50{col 46}{space 3}0.615{col 54}{space 4}-.5290867{col 67}{space 3} .3131088
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.4110065{col 26}{space 2} .2564718{col 37}{space 1}   -1.60{col 46}{space 3}0.109{col 54}{space 4} -.913682{col 67}{space 3} .0916689
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8575591{col 26}{space 2} .2978104{col 37}{space 1}   -2.88{col 46}{space 3}0.004{col 54}{space 4}-1.441257{col 67}{space 3}-.2738614
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.127823{col 26}{space 2}  .337212{col 37}{space 1}   -3.34{col 46}{space 3}0.001{col 54}{space 4}-1.788747{col 67}{space 3}-.4669001
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.7190389{col 26}{space 2} .3592548{col 37}{space 1}   -2.00{col 46}{space 3}0.045{col 54}{space 4}-1.423165{col 67}{space 3}-.0149124
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.961063{col 26}{space 2} .4167614{col 37}{space 1}   14.30{col 46}{space 3}0.000{col 54}{space 4} 5.144226{col 67}{space 3} 6.777901
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8773091{txt} {res}        1{txt} {res} .4147238{txt} {res}        1{txt} {res}        1{txt} ... {res} .2106632
{txt}{hline 78}

{com}.  estimates store mA77
{txt}
{com}. xtpcse tfd2 BRdisadv h50con1_ h501BR_ geocon indcon size ltfd_ i.dy2, pairwise corr(psar1) 

{txt}Number of gaps in sample:  {res}5
{txt}(note: computations for rho restarted at each gap)
(note: rho_i could not be computed for panel sic 2731;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 2992;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3412;
       assumed to be 0.)
(note: rho_i could not be computed for panel sic 3761;
       assumed to be 0.)
(note: estimates of rho outside [-1,1] bounded to be in the range [-1,1])
(note: at least one disturbance covariance assumed 0, no common time periods
       between panels)
{res}
{txt}Prais-Winsten regression, correlated panels corrected standard errors (PCSEs)

Group variable:{col 19}{res}sic{col 49}{txt}Number of obs{col 68}= {res}     3000
{txt}Time variable:{col 19}{res}dy1{col 49}{txt}Number of groups{col 68}= {res}      386
{txt}Panels:{col 19}{res}correlated (unbalanced){col 49}{txt}Obs per group: min{col 68}= {res}        1
{txt}Autocorrelation:{col 19}{res}panel-specific AR(1){col 64}{txt}avg{col 68}= {res} 7.772021
{txt}Sigma computed by {col 19}{res}pairwise selection{txt}{col 64}max{col 68}= {res}        8
{txt}Estimated covariances{col 28}= {res}    74691{col 49}{txt}R-squared{col 68}= {res}   0.3687
{txt}Estimated autocorrelations{col 28}= {res}      386{col 49}{txt}Wald chi2({res}13{txt}){col 68}= {res}   254.76
{txt}Estimated coefficients{col 28}= {res}       15{col 49}{txt}Prob > chi2{col 68}= {res}   0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}Panel-corrected
{col 1}        tfd2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}BRdisadv {c |}{col 14}{res}{space 2} .0965236{col 26}{space 2} .0148213{col 37}{space 1}    6.51{col 46}{space 3}0.000{col 54}{space 4} .0674743{col 67}{space 3} .1255729
{txt}{space 4}h50con1_ {c |}{col 14}{res}{space 2}  .162744{col 26}{space 2}  .090359{col 37}{space 1}    1.80{col 46}{space 3}0.072{col 54}{space 4}-.0143564{col 67}{space 3} .3398444
{txt}{space 5}h501BR_ {c |}{col 14}{res}{space 2}-.0072832{col 26}{space 2} .0047555{col 37}{space 1}   -1.53{col 46}{space 3}0.126{col 54}{space 4}-.0166039{col 67}{space 3} .0020374
{txt}{space 6}geocon {c |}{col 14}{res}{space 2} .0259911{col 26}{space 2} .0127329{col 37}{space 1}    2.04{col 46}{space 3}0.041{col 54}{space 4} .0010352{col 67}{space 3} .0509471
{txt}{space 6}indcon {c |}{col 14}{res}{space 2}-5.229739{col 26}{space 2} 1.397962{col 37}{space 1}   -3.74{col 46}{space 3}0.000{col 54}{space 4}-7.969694{col 67}{space 3}-2.489783
{txt}{space 8}size {c |}{col 14}{res}{space 2}-.0935313{col 26}{space 2} .0123119{col 37}{space 1}   -7.60{col 46}{space 3}0.000{col 54}{space 4}-.1176622{col 67}{space 3}-.0694005
{txt}{space 7}ltfd_ {c |}{col 14}{res}{space 2}  .003366{col 26}{space 2} .0016685{col 37}{space 1}    2.02{col 46}{space 3}0.044{col 54}{space 4} .0000958{col 67}{space 3} .0066363
{txt}{space 12} {c |}
{space 9}dy2 {c |}
{space 7}1992  {c |}{col 14}{res}{space 2}-.0749311{col 26}{space 2} .1156311{col 37}{space 1}   -0.65{col 46}{space 3}0.517{col 54}{space 4}-.3015639{col 67}{space 3} .1517017
{txt}{space 7}1993  {c |}{col 14}{res}{space 2} .0640034{col 26}{space 2} .1720665{col 37}{space 1}    0.37{col 46}{space 3}0.710{col 54}{space 4}-.2732408{col 67}{space 3} .4012476
{txt}{space 7}1994  {c |}{col 14}{res}{space 2}-.0850654{col 26}{space 2}  .222093{col 37}{space 1}   -0.38{col 46}{space 3}0.702{col 54}{space 4}-.5203597{col 67}{space 3} .3502289
{txt}{space 7}1995  {c |}{col 14}{res}{space 2}-.3815577{col 26}{space 2} .2646378{col 37}{space 1}   -1.44{col 46}{space 3}0.149{col 54}{space 4}-.9002382{col 67}{space 3} .1371228
{txt}{space 7}1996  {c |}{col 14}{res}{space 2}-.8121199{col 26}{space 2} .3051641{col 37}{space 1}   -2.66{col 46}{space 3}0.008{col 54}{space 4}-1.410231{col 67}{space 3}-.2140092
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-1.072336{col 26}{space 2} .3432356{col 37}{space 1}   -3.12{col 46}{space 3}0.002{col 54}{space 4}-1.745066{col 67}{space 3}-.3996066
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.6687532{col 26}{space 2} .3681701{col 37}{space 1}   -1.82{col 46}{space 3}0.069{col 54}{space 4}-1.390353{col 67}{space 3}  .052847
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.913198{col 26}{space 2} .4247395{col 37}{space 1}   13.92{col 46}{space 3}0.000{col 54}{space 4} 5.080724{col 67}{space 3} 6.745672
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
        rhos = {res} .8845343{txt} {res}        1{txt} {res} .3525873{txt} {res}        1{txt} {res}        1{txt} ... {res} .2124984
{txt}{hline 78}

{com}.  estimates store mA78
{txt}
{com}.  
. estout mA71 mA72 mA73 mA74 mA75 mA76 mA77 mA78, cells(b(star fmt(3)) se(par fmt(3))) starlevels(* 0.10 ** 0.05 *** 0.01) stats(r2 N N_g vce, fmt(3 0 0)) legend varlabels(_cons Constant)
{res}
{txt}{hline 140}
{txt}                     mA71            mA72            mA73            mA74            mA75            mA76            mA77            mA78   
{txt}                     b/se            b/se            b/se            b/se            b/se            b/se            b/se            b/se   
{txt}{hline 140}
{txt}BRdisadv    {res}        0.075***        0.068***        0.071***        0.063***        0.104***        0.104***        0.094***        0.097***{txt}
            {res}      (0.009)         (0.008)         (0.008)         (0.007)         (0.016)         (0.013)         (0.015)         (0.015)   {txt}
{txt}grfd1con_   {res}        0.057                                                           0.145                                                   {txt}
            {res}      (0.120)                                                         (0.127)                                                   {txt}
{txt}grfd1BR_    {res}       -0.028***                                                       -0.027**                                                 {txt}
            {res}      (0.008)                                                         (0.011)                                                   {txt}
{txt}geocon      {res}        0.027***        0.028***        0.026***        0.026***        0.021***        0.021**         0.017*          0.026** {txt}
            {res}      (0.007)         (0.008)         (0.008)         (0.008)         (0.008)         (0.009)         (0.009)         (0.013)   {txt}
{txt}indcon      {res}       -2.793***       -2.829***       -3.032***       -3.299***       -4.453***       -4.340***       -4.488***       -5.230***{txt}
            {res}      (0.557)         (0.631)         (0.678)         (0.743)         (1.386)         (1.429)         (1.370)         (1.398)   {txt}
{txt}size        {res}       -0.042***       -0.042***       -0.042***       -0.042***       -0.094***       -0.090***       -0.095***       -0.094***{txt}
            {res}      (0.013)         (0.013)         (0.014)         (0.014)         (0.011)         (0.011)         (0.012)         (0.012)   {txt}
{txt}ltfc_       {res}        0.352***        0.353***        0.354***        0.352***                                                                {txt}
            {res}      (0.069)         (0.069)         (0.069)         (0.069)                                                                   {txt}
{txt}1991.dy2    {res}        0.000           0.000           0.000           0.000           0.000           0.000           0.000           0.000   {txt}
            {res}          (.)             (.)             (.)             (.)             (.)             (.)             (.)             (.)   {txt}
{txt}1992.dy2    {res}       -0.110***       -0.113***       -0.102**        -0.087**        -0.088          -0.082          -0.089          -0.075   {txt}
            {res}      (0.037)         (0.035)         (0.040)         (0.043)         (0.103)         (0.102)         (0.107)         (0.116)   {txt}
{txt}1993.dy2    {res}       -0.183***       -0.187***       -0.180***       -0.162***        0.053           0.063           0.042           0.064   {txt}
            {res}      (0.051)         (0.050)         (0.053)         (0.058)         (0.155)         (0.153)         (0.161)         (0.172)   {txt}
{txt}1994.dy2    {res}       -0.295***       -0.292***       -0.295***       -0.278***       -0.095          -0.092          -0.108          -0.085   {txt}
            {res}      (0.077)         (0.077)         (0.078)         (0.081)         (0.204)         (0.202)         (0.215)         (0.222)   {txt}
{txt}1995.dy2    {res}       -0.752***       -0.749***       -0.750***       -0.736***       -0.396          -0.399*         -0.411          -0.382   {txt}
            {res}      (0.102)         (0.102)         (0.101)         (0.105)         (0.245)         (0.242)         (0.256)         (0.265)   {txt}
{txt}1996.dy2    {res}       -1.043***       -1.038***       -1.053***       -1.016***       -0.843***       -0.852***       -0.858***       -0.812***{txt}
            {res}      (0.125)         (0.126)         (0.123)         (0.128)         (0.284)         (0.281)         (0.298)         (0.305)   {txt}
{txt}1997.dy2    {res}       -1.171***       -1.161***       -1.176***       -1.137***       -1.118***       -1.133***       -1.128***       -1.072***{txt}
            {res}      (0.162)         (0.164)         (0.160)         (0.166)         (0.321)         (0.318)         (0.337)         (0.343)   {txt}
{txt}1998.dy2    {res}       -1.208***       -1.201***       -1.216***       -1.199***       -0.704**        -0.722**        -0.719**        -0.669*  {txt}
            {res}      (0.187)         (0.188)         (0.183)         (0.188)         (0.342)         (0.339)         (0.359)         (0.368)   {txt}
{txt}RDcon_      {res}                        0.090                                                           0.144                                   {txt}
            {res}                      (0.106)                                                         (0.109)                                   {txt}
{txt}RDconBR_    {res}                       -0.032***                                                       -0.022**                                 {txt}
            {res}                      (0.007)                                                         (0.010)                                   {txt}
{txt}psg50dcon1_ {res}                                        0.166                                                           0.111                   {txt}
            {res}                                      (0.125)                                                         (0.162)                   {txt}
{txt}psg501BR_   {res}                                       -0.024***                                                       -0.007                   {txt}
            {res}                                      (0.006)                                                         (0.009)                   {txt}
{txt}h50con1_    {res}                                                        0.214***                                                        0.163*  {txt}
            {res}                                                      (0.071)                                                         (0.090)   {txt}
{txt}h501BR_     {res}                                                       -0.005*                                                         -0.007   {txt}
            {res}                                                      (0.003)                                                         (0.005)   {txt}
{txt}ltfd_       {res}                                                                        0.003**         0.003**         0.003**         0.003** {txt}
            {res}                                                                      (0.002)         (0.002)         (0.002)         (0.002)   {txt}
{txt}Constant    {res}        2.755***        2.759***        2.762***        2.715***        5.913***        5.904***        5.961***        5.913***{txt}
            {res}      (0.452)         (0.449)         (0.458)         (0.459)         (0.405)         (0.407)         (0.417)         (0.425)   {txt}
{txt}{hline 140}
{txt}r2          {res}        0.565           0.568           0.564           0.564           0.378           0.384           0.366           0.369   {txt}
{txt}N           {res}         3099            3099            3099            3099            3000            3000            3000            3000   {txt}
{txt}N_g         {res}          394             394             394             394             386             386             386             386   {txt}
{txt}vce         {res}                                                                                                                                {txt}
{txt}{hline 140}
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. **THE END
. 
{txt}end of do-file

{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\isshlee\Dropbox\PSRM\Manuscript_data\Fin\log_PSRM+Lee+June 2016+Tariffs+Tables 124+App12457.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}15 Jun 2016, 19:27:24
{txt}{.-}
{smcl}
{txt}{sf}{ul off}